Ultra-Wide Band (UWB) communication systems can be used to design low cost, power efficient and precise navigation systems for mobile robots, by measuring the Time of Flight (ToF) of messages traveling between on-board UWB transceivers to infer their locations. Theoretically, decimeter level positioning accuracy or better should be achievable, at least in benign propagation environments where Line-of-Sight (LoS) between the transceivers can be maintained. Yet, in practice, even in such favorable conditions, one often observes significant systematic errors (bias) in the ToF measurements, depending for example on the hardware configuration and relative poses between robots. This letter proposes a ToF error model that includes a standard transceiver clock offset term and an additional term that varies with the received signal power (RxP). We show experimentally that, after fine correction of the clock offset term using clock skew measurements available on modern UWB hardware, much of the remaining pose dependent error in LoS measurements can be captured by the (appropriately defined) RxP-dependent term. This leads us to propose a simple bias compensation scheme that only requires on-board measurements (clock skew and RxP) to remove most of the observed bias in LoS ToF measurements and reliably achieve cm-level ranging accuracy. Because the calibrated ToF bias model does not depend on any extrinsic information such as receiver distances or poses, it can be applied before any additional error correction scheme that requires more information about the robots and their environment.