Maximum CPC bid refers to a bid that you set in order to determine the highest amount you are willing to pay for a click on your ad. This means that if someone clicks on your ad that click will not cost more than whatever you have set as the max CPC bid. This does not mean that the max amount will always be the actual amount that you pay.
The amount that you actually pay is referred to as the actual CPC. This amount is shown in the avg. CPC column. If you establish a higher max CPC bid your ad is more likely to get a higher position on the page.