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Construction Industry Insurance Experts
New Build Warranties to Bonds to Insurance Backed Guarantees
Contractor Bonds
What is Contractor Bonds Insurance?
Your own credit lines and assets could be tied up if you are asked to provide security to secure a project. Contractor Bonds Insurance removes the need to provide tangible security allowing you, the contractor, to free up capital and acquire other new projects.
Contractor Bonds, also referred to as Contract Bonds and Surety Bonds can cover many different areas:
- Performance: providing security to your client against default or non-performance
- Maintenance: covering your agreed obligations after completion for a set period
- Advance Payment: for advance payments made by the client to you the contractor
- Bids: ensuring you commit to the contract if a bid is successfully accepted
Contractor Surety Bonds can be extremely critical when bidding and if you fail to secure and provide one in time it will no doubt lead to the unsuccessful securing of that bid. This is where we can help.
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Full Membership qualifies you for free cover up to £100,000. Enquire to learn more.
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