Metro City would like a pedestrian bridge constructed across Big Creek

Metro City would like a pedestrian bridge constructed across Big Creek. The city will accept bids on the project until a specified date.

Bidders must submit a bid bond that guarantees if the bid is accepted, the bidder will sign the construction contract and furnish a bond that guarantees the construction work will be completed according to contract specifications. This second bond the bidder must post is a
A) performance bond.
B) payment bond.
C) maintenance bond.
D) completion bond.

ANSWER

Answer: A