Signed, Sealed, Delivered: A legal analysis of the validity and enforcability of electronic bid bonds
August 2013 marked the launch of a fully integrated online bonding protocol using industry-leading technology, and with it the completion of Canada’s most advanced online bidding solution: BidCentral.
With millions of project dollars being managed through BidCentral, meeting the highest standards of the Surety Association of Canada, as well as the business needs of owners and contractors, is vital.
In consideration of meeting these highest standards the law firm of Jenkins Marzban Logan LLP has reviewed the legal requirements of a valid and enforceable bid bond in an electronic transaction and prepared the attached paper which concludes that “there should be no legal impediment to the validity and enforceability of electronic bid bonds in British Columbia or any other jurisdiction with similar electronic transactions legislation and common law principles.”
Also available: Our Construction File: BCCA's BidCentral implements new e-bonding, providing some background to the updated process. We're also featured in On-Site Magazine.
Other BCCA Reports