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Performance bonds/developer insolvency bonds are issued to the principal (contractor/developer), by the surety, on behalf of the beneficiary (developer/housing association).

This tri-party agreement protects the beneficiary from the risk of the principal failing to fulfil their contractual obligations. If the principal defaults on their obligation within the agreement, the surety will compensate the beneficiary for any loss of value on their development.

Performance bonds/developer insolvency bonds are typically valued at 10% of the contract value

Find Out More About Performance Bonds

For more information about sewer bonds, please call us on 01603 218288 or alternatively email us.