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The selected bidder refuses to execute required contract documents. What does AIA A701 bid security protect?

Correct Answer

C) Owner award-obligation protection

A701 bid security protects the Owner if the selected bidder fails award obligations.

Answer Options
A
Shop drawing review after fabrication
B
Immediate subcontract payment
C
Owner award-obligation protection
D
Permit approval of private changes

Why This Is the Correct Answer

A701 bid security protects the Owner if the selected bidder fails award obligations.

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