Contract Securitization: Bidder’s Bank Guarantee

Description

This Skill Bit shows that Bidder’s Bank Guarantees are sometimes called bank guarantees for bidding. These are financial instruments issued by banks to support contractors or bidders in a competitive bidding process. They function as a guarantee for project owners that the bidder is serious and financially capable of completing the project if awarded the contract.

Duration approx. 4 Min.

Tier: proficiency