How is an owner compensated when there is a bid bond if the lowest responsible bidder refuses to be awarded a contract and the project is awarded to the second lowest bidder?
What will be an ideal response?
If the lowest responsible bidder refuses to be awarded a contract the owner is compensated by the surety for the difference between the lowest bidder and the second lower bidder up to the bid bond amount.
You might also like to view...
________: a quantitative restriction on the amount of a product that may enter a country during the time period.
Fill in the blank(s) with the appropriate word(s).
The ornate horned frog is carnivorous
Indicate whether the statement is true or false
Technician A says that vehicles capable of using 100% ethanol are known as flex fuel vehicles. Technician B says that using E85 in a flex fuel vehicle will result in less horsepower. Which technician is correct?
A) Technician A only B) Technician B only C) Both technicians D) Neither technician
When using a calibrated 75? tape, you measure a distance of 375?. Expressed in terms of tape lengths, this distance is _____ tape lengths