How to open the tender guarantee?

Bid bond refers to the written guarantee issued by the bank, which is generally required by the tenderer to submit the bid documents to ensure that the bidder shall not cancel the bid documents and conclude a contract with the tenderer without justifiable reasons after winning the bid.

procedure

1. The applicant fills in the letter of guarantee application and submits relevant materials;

2, the bank to review the applicant's qualifications, application procedures and project feasibility;

3. Sign an agreement to implement the deposit or counter-guarantee;

4. The bank will issue a bid guarantee for the applicant.

* The amount of bid bond is generally 65438+ 0%-5% of the bid price.

* Time limit for bid security

The validity period of bid guarantee is generally not more than six months, and it will take effect from the date of issuance.

See the figure below for details: