Yes, you need a separate current liability account to post the received bid bond to. This would be very similar to receivingva security deposit frorm a renter.
Go to your chart of accounts, add a new account. Also set up, if you wish, a service item that posts to the bid bond liability. Then you can useca sales receipt or invoice to record the bond. Receive payment, deposit or just hold it in Undeposited Funds.
If the bond becomes no longer required and you never cashed it you physically return it to customer and void it in QB. If you cashed it you will cut a check to return it.