1. Check the correct boxes:

	Bonds
No.	Statement	Bid bond	Performance bond	Payment bond
1	Required from all bidders
2	Required from the lowest qualified bidder only
3	Is refunded / returned at the end of the process
4	Guarantees that if chosen as the lowest qualifies bidder, will sign a contract with the owner
5	Assures the owner that the contractor will pay all subcontractors, vendors, and laborers
6	Protects the owner against liens against the project
7	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