Performance Bonds & Guarantees
Fleet & Commercial is able to provide quotations for many different types of bonds and guarantees for various industiries and contracts.
The most common of these is a Performance Bond, which is also known as a contract bond. In simple terms, this surity bond is issued by an insurer or bank to guarantee satisfactory completion of a project by a contractor.
A situation in which a bond may be used is if the contractor fails to construct the building according to the specifications laid out by the contract terms (most often due to the bankruptcy of the contractor), the client is guaranteed compensation for any financial loss up to the amount stipulated in the performance bond.
If you have been asked to provide a bond or even an insurance backed guarantee on your work for a current or potential Client, please give us a call to discuss your needs. We will be delighted to offer you some useful advice and if you would like to proceed with a quote we can gather the information from you there and then.