Metro City would like a pedestrian bridge constructed across Big Creek.The city will accept bids on the project until a specified date.Bidders must submit a bid bond that guarantees if the bid is accepted,the bidder will sign the construction contract and furnish a bond that guarantees the construction work will be completed according to contract specifications.This second bond the bidder must post is a

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A performance bond guarantees that the construction work will be completed according to the contract specifications. A payment bond guarantees that the subcontractors and suppliers will be paid for their work and materials. A maintenance bond guarantees that the completed project will be maintained for a specified period of time. A completion bond is not a common term in the construction industry. Therefore, the best choice in this scenario is a performance bond.

Metro City Would Like a Pedestrian Bridge Constructed Across Big