Performance Bonds Insurance
As a developer, selecting the right contractor for your project can be a time-consuming, and sometimes difficult, task. You may have a recommendation from your architect or your client. You may have gone through an exhaustive tendering process. Or you may decide to use a construction company you’ve worked with before, on a similar project. However you choose your building partner, you’re putting your trust in them to fulfill your contract. You’re relying on them to honour their agreement to deliver to your timetable and your budget. And in an ideal world, this is exactly what happens.
But, what if your chosen contractor goes out of business during construction? What happens to the financial investment you’ve already made in them? And what happens to the future of your property development? A Performance Bond for Construction is an insurance policy that will protect you financially from the repercussions of your builder being unable to fulfill the contract.
Need Insurance? Get in touch today!
Whatever your performance bonds insurance requirements, please get in touch today for a free no obligation quotation.