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A bid bond is an indemnity bond where it waives the right of the offeror to go back on his proposal once it has been given to offeree. Also through this bond a public agency is protected in case the bidder withdraws his bid before contest or declines to enter into contract on its acceptance.
It must be distinguished from earnest money which is for the purpose of showing seriousness to participate in the bid. It is commonly called token money.
What else can I help you with?
What does earnest money mean in a real estate transaction?
Earnest money in a real estate transaction is a deposit made by the buyer to show their commitment to purchasing the property. It demonstrates the buyer's seriousness and is typically held in escrow until the sale is finalized.
WHAT IS SSA 310 deposit?
Deposit for Social Security Disability payments..
What does PP mean in real estate?
PP in real estate usually refers to Purchase Price
What does the number 310 mean in a social security benefits deposit?
The Social Security benefits. Deposit, accompanied by the service code 310 gives the benefactor an indication that the deposit was a special circumstance deposit. This type of deposit is usually an one time deposit.
What does it mean forfeit your security deposit?
It means to love someone
What does deposit mean with the bank?
to pay in money (from anselem peter.c)
What does first last and security deposit mean for a rental home?
First and last months security deposit is given so the landlord has a means of repairing any damage you might do to the house. It encourages the renter to take care of the property in order to get their deposit back.
Can an hoa take a security deposit for an alleged violation?
"Alleged" doesn't mean 'guilty' or 'responsible'. Demanding a security deposit at this stage in the process doesn't really fit, unless the governing documents and their process provide otherwise.
Can a landlord damage your credit if they never took a security deposit or Social Security Number from you?
No, they have to have your SS# to be able to do anything with your credit. Also a security deposit doesn't mean anything when it comes to renting if you do not pay your rent or get evicted due to another cause it has nothing to do with your credit.
What does less cash received mean on a banking deposit slip?
The amount out of the check that you are receiving in cash.
What does deposit amt mean?
trying to make an account online to see how much money i have in the bank and i dont know what it is
Can you explain what first, last, and security deposit mean in terms of renting a property?
First, last, and security deposit are payments made by a tenant to a landlord when renting a property. The "first" refers to the first month's rent, the "last" refers to the last month's rent, and the "security deposit" is a refundable amount held by the landlord to cover any damages or unpaid rent at the end of the lease.
