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Bonds and Guarantees
Performance Bond
What is it:
Performance Bond is furnished to the Owner or Principal or Employer of a Contract to guarantee for due performance and observance to the terms and conditions of the contrator's obligation when the contractor undertake a project. It eases your financial commitment while freeing your money for smarter use.
Key Coverage:
This is for the Principal to ensure the contractor fulfill his contract within the specified period and in accordance with the specification of the project. The amount guarantee varies from 5% to 25% of the contract sum.
Key Underwriting data:
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Last 3 years of Company Financial Statement.
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List of past projects completed and current projects
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Specimen of Bond Wordings
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Counter Indemnities
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Collateral ( if any )
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Project Information ( Contract value, Description of work, site etc )
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