Performance bonds

A Performance Bond or Construction and Contract Guarantee Bond covers the damages suffered by the customer in the event of non-performance of the contract by the contractor. Performance Bonds are widely used across all industries and in the UK are usually for 10% of the contract price.

Applicant/risk

  • Service sector companies
  • Engineering companies
  • Commercial companies.

Beneficiary

  • Local authorities
  • Government bodies
  • Commercial companies
  • Main contractor.