Construction
Contractual agreements call for great responsibility and usually involve considerable sums of money. Therefore there is, as a rule, always some form of security built into the contract. With the help of a combined performance/maintenance bond the buyer is protected against the possibility of extra costs, penalties and damage that may arise if the contractor fails to fulfil his or her obligations under the contract.
During the guarantee period that follows completion of the contract, the bond covers the buyer’s costs in making good deficiencies and damage in cases where, for some reason, the contractor is unable to do so. The greatest advantage of our combined performance/maintenance bond is that it requires no collateral. Thus the buyer does not have to tie up capital that he or she can use elsewhere, where it will do most good.
Read more about the most usual guarantees in the building and construction industry:
Combined Performance/Maintenance bond
Bid bond
Performance bond
Maintenance bond
Payment bond
