Bonds

As independent surety specialists, we focus on providing clients with our exclusive expertise on bonds and guarantees whilst leaving the general insurance business to your brokers. This means we can help brokers offer a complete range of services and our clients a comprehensive surety solution they can trust.
 

Types of Bonds

What type of Bonds do we work with?
 
Performance Bond
A performance bond, sometimes known as a contract bond, is a written guarantee that ensures payment is made if a contractor fails to meet contractual requirements.
 
Construction Guarantee Bond
A construction guarantee bond is a performance bond specifically geared towards the construction sector and certain forms of construction contracts.
 
Retention Bond
A retention bond is a type of performance bond designed to protect a job after it’s been finished. It guarantees that the contractor will carry out any work needed after the contract’s been completed, even if full payment has been made.
 
Advance Payment Bond
A bond which guarantees to an Employer their upfront payment to a Contractor for goods or services.
 
Bid/Tender Bond
A bid bond is sent with a tender to demonstrate that the contractor is able to fulfil the agreement they’re hoping to win. If the contractor is successful, the bond is usually replaced with a performance bond.
 
Road and Sewer Bond
A highway act or road bond is a guarantee from a property developer that they’ll complete roads and sewers to the necessary standards under the relevant Acts.
 
Restoration/Reinstatement/Landfill Bonds
These bonds guarantee that the land will be returned to an agreed state after the project is completed.
 
Duty Deferment Guarantee/VAT Guarantee/Warehouse Guarantee
These are guarantees sent to HM Revenue & Customs to allow late payment of duty or VAT on goods imported to and stored in the United Kingdom from outside the European Union.
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