Check the right boxes:

Bonds No. Statement 1 Required from all bidders 23 4 5 9 7 Required from the lowest qualified bidder only It is refunded at the end of the process It guarantees that if chosen as the lowest qualified bidder, will sign a contract with the owner It assures the owner that the contractor will pay all his subcontractors, vendors, and laborers Protects the owner against liens against the project It assures the owner that the contractor will complete the project within the terms of the contract. Otherwise, the surety will get another contractor to complete the project within the terms of the contract Bid bond Performance bond Payment bond