Bonds Direct was the UK's first website to offer you cost indications for your bonds direct from the Underwriter.
Contractors who can provide Performance Bonds win better quality work at better prices than Contractors and Sub-Contractors who cannot offer bonds. This is because Employers know that bonds are only available to the best Contractors.
In the Construction Industry Performance Bonds are used to reassure Employers that a Contractor will perform in accordance with the Building Contract.
Employers often ask for Performance Bonds so that they will receive compensation in the event that your company becomes insolvent or simply fails to do the works in accordance with the contract.
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Retention bonds enable you to receive the 5% retention monies normally held by your Employer.
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An Advance Payment Bond may be required by your Employer if you have asked for an advance payment under the Contract in respect of any materials or goods that are required to be pre-ordered.
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In relation to a building development that involves the completion of new roads and/or sewers you may be asked to provide a cash deposit to be held until such time as they are adopted by the relevant authority.
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You may be looking for a different type of Bond, for example Duty Deferment Guarantee, Customs Comprehensive Guarantee, Restoration Bond, Pension Bond or Deposit Guarantee.
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