Multiple Choice
In the event the bidder does not make proper payment to its suppliers, the bond that protects the buyer against liens that might be granted to these suppliers, is called a:
A) performance bond.
B) surety bond.
C) bid bond
D) payment bond.
E) lien bond.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Identical prices received from various sources should:<br>A)
Q2: Forward buying:<br>A) offsets transactions to protect against
Q3: Canceling a contract for a technicality when
Q5: For goods bought on a non-recurring basis,
Q6: Competitive bidding, in general, is the least
Q7: An escalator clause provides for an increase,
Q8: Governments play a role in establishing prices
Q9: Items for which prices are comparatively low,
Q10: A fair price:<br>A) is based on market
Q11: One justification for a quantity discount is