Bid & Performance Bonds
A bid bond is a legal instrument enforceable by law that is used by project owners at tender stage. Bid Bonds are undertaken by contractors to provide assurance to the project owner that they are qualified and committed to execute the bid. If the contractor wins the bond but decides not to execute the bid, the project owner may make a claim against the full or partial amount of the bid bond.
A performance bond guarantees the project owner against possible losses if a contractor fails to perform or deliver the project contractor according to the terms and conditions stipulated in the contract.
We source, secure and facilitate bid and performance bonds from reputable insurance companies on behalf of our clients.