Bid bond

Bid bond | Advance payment guarantee | Performance bond | Retention Bond | Warranty Bond | Payment Guarantee


Guarantee insures the obligation of a winning bidder to enter into a contract.

Through this guarantee, Česká exportní banka will compensate the tender organiser in the event that an exporter wins the tender but does not comply with the conditions in the bid it submitted. Such non-compliance with conditions may be, for example, a change in price, delivery time or delivery terms, or a refusal to conclude the export contract.