Performance
Bonds
Arranging the most comprehensive protection for our clients.
Performance bonds are commonly used to protect the developers’ interest in a project. The bond guarantees that the value of work will not be lost in the event of contractor insolvency.
A performance bond is provided to guarantee against the failure of the other party to meet their obligations as specified in the contract. We have a broad network of bond providers that allows us to deliver facilities on various projects for our clients.
A performance bond can be used in a variety of instances, including:
- A Developer/Contractor wants to work with a housing association. However, the housing association insists upon a performance bond to protect their interests, so the other party must provide one.
- An experienced developer has a new scheme where they will be appointing a main contractor to undertake the works. In order to protect against the event of the contractor becoming insolvent, a performance bond offers a financial guarantee for the full value of the project.
Performance Bonds Benefits
Protection in the event that the contractor fails to meet their contractual obligations
The owner of a project is assured of the completion of the project
Mitigates the owners risk of incurring additional costs.
Real alternative to bank bonds and escrows
Protects developer funds
Offers comfort for the funders while delivering assurance of project completion
We see our role as an independent advisor who reviews the merits of each policy to help our clients make well informed decisions.
We are now established as the UK property markets go-to broker for construction insurance and finance.
Our ethos is based around outstanding customer service. Obtaining specialist property insurance can be an arduous process. We take away that pain by managing the process for our clients and ensuring they receive the most appropriate and commercially attractive solutions.
