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The Master Builder: Ultimate General Contracting Quiz
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What is the purpose of a 'bid bond' submitted during a construction bidding process?
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Hint
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⚖️
50-50
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Audience
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A
To guarantee the contractor will pay for materials
B
To guarantee that the winning bidder will enter into the contract and provide required performance bonds
C
To cover the cost of preparing the bid proposal
D
To insure against accidents during the bidding phase
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