Performance Bonds / Contract Guarantee Bonds
A guarantee, up to the value of the bond, which protects the Employer against any losses and/or damages sustained as a result of the Contractor failing to perform its contractual obligations.
'On Demand' Guarantees
Usually only available through Banks, however we have been successful recently in sourcing this style of Guarantee for several of our clients with one of our carriers.
National House Building Council (NHBC) Bonds
A bond provided by construction companies (for the benefit of the NHBC) who wish to become a registered builder or developer of the Council and agree to comply with the NHBC rules and regulations.
Advance Payment Guarantees
A guarantee, up to the value of the bond, to the Employer that monies advanced to the contractor will be expended on the contract or otherwise be repaid by the Contractor and will be safeguarded against default by the Contractor.
A guarantee to provide to protect the seller against loss in the event the purchaser defaults. Typically a company is sold and there is agreement to repay the purchase price over a period of time. This guarantee would ensure that in the event of default the seller does not suffer loss, MBO’s being a typical example of where such a guarantee may useful so that a deal can complete.
Surety and Bond are authorised and regulated by the Financial Services Authority