Define: Tender Bond

UK Accounting Glossary

Definition: Tender Bond


Quick Summary of Tender Bond


A Tender Bond is required by a Contractor during the submission of tenders for contract jobs to the Principal.



What is the dictionary definition of Tender Bond?

Dictionary Definition


A Tender Bond is guarantee given by a company that it will not withdraw from a contract, if it is awarded, after having submitted a tender.


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Full Definition of Tender Bond


A Tender Bond is required by a Contractor during the submission of tenders for contract jobs to the Principal.

The primary purpose of a Tender Bond is to guarantee that the contractor who is awarded the contract will undertake the contract under the terms at which the contractor has submitted and is capable of providing a Performance Bond thereafter.


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Page URL
https://payrollheaven.com/define/tender-bond/
Modern Language Association (MLA):
Tender Bond. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 17, 2019 https://payrollheaven.com/define/tender-bond/.
Chicago Manual of Style (CMS):
Tender Bond. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/tender-bond/ (accessed: September 17, 2019).
American Psychological Association (APA):
Tender Bond. PayrollHeaven.com. Retrieved September 17, 2019, from PayrollHeaven.com website: https://payrollheaven.com/define/tender-bond/

Definition Sources


Definitions for Tender Bond are sourced/syndicated from:


This glossary post was last updated: 4th May 2019.