A Bid Bond that has a maximum penal sum written on the bid bond instead of a percentage of the bid. Capping a bid bond is rare but allows the surety bond company to prevent a Principal from bidding over a specified amount. The Bid Bond will usually contain language that is a percentage of the Principal’s Bid, “not to exceed” a specified dollar figure.
Axcess Surety is the premier provider of surety bonds nationally. We work individuals and businesses across the country to provide the best surety bond programs at the best price.
