Why have a Bond?
The most disruptive and costly event that can befall any construction project is CONTRACTOR FAILURE.
A Contract Bond transfers this risk from Employer to the Guarantor at a relatively low cost - usually significantly less than 1% of the overall Contract Value.
Historically, construction firms have accounted for circa 30% of all liquidations & receiverships.
The reasons vary, but construction firms can get into financial difficulties at any point in the economic cycle and prudent Clients will always opt to manage this risk.
The question is simple...
Can you afford not to have your contract bonded?
For more detailed information read the Information Booklets available in our Document Centre.