An Advance Payment Bond is a guarantee, arranged by the party receiving an advance payment, to the party advancing the payment.
A Performance Bond is a guarantee, usually with a value of 10% of the initial contract price, however in some cases this can vary to include land values.
Road and sewer bonds are required in connection with agreements with local Water boards and Planning Acts. These bonds guarantee the completion of roads and sewers to enable them to be adopted by the relevant authority.
Like a sewer bond these bonds make a guarantee to the local water board.
Give your client peace of mind with the help of Retention Bonds arranged by Roylemac10
A road bond is required before any new development can receive planning permission.
A completion bond is a financial contract that ensures that a project will be completed should the contractor or developer run out of funds.
Surety bonds provide financial security and construction assurance by giving project owners the confidence that contractors will perform the work and pay specified subcontractors, labourers, and material suppliers.
Office 2-20, The Innovation Factory, 385 Springfield Road, Forthriver Business Park, Belfast, BT12 7DG
Tel: +44 (0) 28 9590 2826
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Tel: +44 (0) 161 694 6885
20-22, Wenlock Road, London, UK. N1 7GU.
Tel: +44 (0) 20 3858 9589