Performance Bonds

CLAIMS

Performance Bonds

A Performance Bond is a form of security provided by a contractor to a developer. It consists of an undertaking by a bank or insurance company to make a payment to the employer in circumstances where the contractor has defaulted under the contract.

For those who aren’t familiar with bonds, we’ve written a Fact Sheet with more detailed information

BENEFITS

  • Focus works with a Partner to source Construction Performance Bonds, as this is a specialised marketplace. This ensures we can help Brokers provide their clients with the contract that suits their needs

CORE COVER

  • Performance Bonds for the Construction industry

ADDITIONAL COVERS

  • Advanced Payment Bond
  • Conditional Bond
  • Demand Bond
  • Retention Bond

TARGET BUSINESS

  • Construction industry