Construction
Bid Bond Release (Post-Award or Rejection)
Releasing the bid bond margin back to the current account after the tender result.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash in Bank | Asset (+) | 5,000.00 | - |
| Restricted Cash (Bid Bond Margin) | Asset (-) | - | 5,000.00 |
💡 Accountant's Note
Once the tender is awarded to another party or the contractor has signed the contract, the bid bond is released and the cash becomes freely available again.
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