Among different type of L/Gs:
A bid bond is issued as part of a bidding process by the surety to the project owner, to guarantee that the winning bidder will undertake the contract under the terms at which they bid.
Advance Payment Guarantee:
A Bank guarantee requested by a party receiving an advance payment to the party advancing the payment. It provides that the advanced sum will be returned if the agreement under which the advance was made cannot be fulfilled.
The Performance Bond is a bank guarantee issued on behalf of the contractor in order to provide a guarantee against the failure of the other party to meet obligations specified in the contract.