Get a fast indication direct from specialist surety underwriters
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.
These bonds are normally issued for an amount equal to 10% of the contract amount and finish at Practical Completion or End of Maintenance. Performance Bonds help you to win better jobs at better prices.
If you need a Performance Bond please call us now on 01799 512030
A Performance Bond is a guarantee, provided by a surety, that compensates your Employer if your company becomes insolvent or fails to carry out the works in accordance with the contract.
Cost depends on the bond value, the length of the contract and the financial strength of your business.
In most cases we can provide an indication within hours, with the bond issued in a matter of days once the supporting information is in place.
Typically your latest accounts, the contract value and start date, the bond wording requested by your Employer and the required bond percentage.
Performance Bonds are normally issued for an amount equal to 10% of the contract value, expiring at Practical Completion or End of Maintenance.
Yes. Newly formed companies can often be supported, although underwriters may ask for additional information or security. Talk to us about your circumstances.
A Performance Bond guarantees performance of the contract works. A Retention Bond releases the retention monies — normally 5% — that your Employer would otherwise hold.
Floor Form Group use Evolution Insurance Group for all our performance bonds. As our companies have expanded into markets in mainland Europe Evolution have been an excellent partner who have met every single requirement that we have had in a timely and efficient manner. They are a great company to work with
Gary McKeown
Floorform (Ireland) Ltd
Total Security Protection Ltd placed its first bond with EvoSurety in 2008 and we have always found them to be very helpful, knowledgeable and responsive to our business requirements. A pleasure to work with.
Richard Langdon
Total Security Protection Ltd
Call a bond specialist on 01799 512 030
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