Bid Bonds. 23 January 2009. What is a Bid Bond?. Stepping stone to full performance bond (or letters of credit). Value is based on cost of running the auction again, if a shipper is not able to fulfil their credit arrangements. Held in elected bank during bidding process. Capacity Release.
23 January 2009
Performance Bond / Letter of Credit
What is the right level of security, without providing a barrier to entry, or costing the community more than the risk of default?