RFI, RFP, RFQ & tender documents · Working
Bid bond
Also called: tender bond
ELI5
Security intended to protect the buyer if a bidder fails to honour specified bid obligations.
Used in conversation
“Can we state who receives the right created by bid bond, and when it applies?”
Pitch context
You will see “Bid bond” in operating plans, procurement packs, supplier reviews and supply-chain reports when the discussion reaches rfi, rfp, rfq & tender documents.
Why it matters: In rfi, rfp, rfq & tender documents, a loose definition can change rights, obligations, approval, disclosure or enforceability.
Caution
Meaning, enforceability and required process vary by jurisdiction and agreement; this definition is not legal advice.
Sources & evidence · 3
Direct term-level sources and supporting source families.
- U.S. Acquisition.gov — Federal Acquisition Regulation Part 15 — Contracting by NegotiationDirect source · primary · checked 2026-08-16
- UK Government — Groceries Supply Code of PracticeDirect source · primary · checked 2026-08-16
- U.S. Bureau of Labor Statistics — Productivity programmeSupporting source family · primary · checked 2026-08-16