Indiana Code 36-1-9.5-6. “Bid bond” defined
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Terms Used In Indiana Code 36-1-9.5-6
- bidder: means an individual, a partnership, a firm, a limited liability company, a corporation, or other person submitting a bid for advertised work. See Indiana Code 36-1-9.5-7
Sec. 6. As used in this chapter, “bid bond” means the approved form of security furnished with a bid to guarantee that the bidder will enter into the contract if the bidder’s bid is accepted.
As added by P.L.85-1991, SEC.3.