Advance/Stage Payment Bonds
Advance/Stage Payment Bonds
Advance Payment Bonds (APBs) are widely used in all types of industries but are particularly prevalent in the engineering, manufacturing and construction sectors.
APBs are a guarantee in favour of a customer to provide security for monies, which have been paid in advance of the goods or services being provided.
In common with other forms of bonds this type of guarantee is usually best provided by a surety company rather than a bank as it can generally be provided on an unsecured basis as it does not tie up valuable working capital and in addition more equitable bond wordings can be arranged.
To find out more about APBs please contact our representatives in either our Manchester or London offices.
Applicant/risk
- Construction Companies
- Engineering Companies
Beneficiary
- Local Authorities
- Government Bodies
- Commercial Companies
An Advance/Stage Payment Bond is a guarantee in favour of a customer to provide security for monies which have been paid in advance of the goods or services being provided one of our Surety Bonds .