Author Question: Explain why an owner would require bid bonds on a construction project. What will be an ideal ... (Read 63 times)

scienceeasy · **on:** Jul 26, 2018

Explain why an owner would require bid bonds on a construction project.

What will be an ideal response?

Question 2

Discuss why the selection of appropriate colors is a concern in international contracts.

What will be an ideal response?

maaaaaaaaaa · **Reply #1 on:** Jul 26, 2018

Answer to Question 1

An owner would require bid bonds on his or her construction project because it would ensure that if the lowest bidder is awarded the project they would sign the contract or the owner would be entitled to the difference between the amount of the lowest bid and the second lowest bid up to the total value of the bid bond from the surety company.

Answer to Question 2

The selection of appropriate colors is a concern in international contracts because they are interpreted differently throughout the world. Some colors denote death or mourning, some mean luck, some represent disease, and there are other interpretations.