Sec. 6. As used in this chapter, "bid bond" means the approved form of security furnished with a bid to guarantee that the bidder will enter into the contract if the bidder's bid is accepted. As added by P.L.85-1991, SEC.3.
"Bid bond" defined
Ind. Code § 36-1-9.5-6, under Qualifications of Bidders for Certain Contracts.
Ind. Code § 36-1-9.5-6