Performance Bonds

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What is a Performance Bond?

Performance bonds are a specialised type of surety bond. They guarantee against one party failing to meet their obligations on time, or to an agreed level of performance. The performance bond protects against, for example, a contractor failing to carry out their contracted work to acceptable timing or standards.

Who Takes Out a Performance Bond?

Usually, contractors take out performance bonds. This is often the case when contractors undertake public work projects that need to meet certain standards.

What Does a Performance Bond Cover?

What a performance bond covers depends on the project. They can protect against failing to complete the project overall. They also cover the non-completion of the project to an agreed level of performance.

    Additional Types of Bonds

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    Retention Bonds

    Road & Sewer Bonds

    Advance Payment Bonds

    What We Offer

    ____

    Specialist bond advisers throughout the process

    Every bond assessed individually

    Competitive rates from top insurers

    Get a Quote

    To get a quote for your performance bond there are many factors that we need to access. The forms below will help you to provide all these details, such as your company financial information and history and the details of the project. 

    Please download and complete all the forms below and send them to bonds@alternativeinsurancebrokers.co.uk.

    General Information Form

    Application Form

    Bank Information Form

    If you have any questions that you would like answered before proceeding with a quote then please contact our team using the form below and they will get back to you shortly.

    Surety Bonds FAQs

    Who does a Performance Bond involve?

    A bond will involve the following three participants:

    The SuretyThe PrincipalThe Obligee
    Entity providing guaranteeContractor / YouThe party who requires the bond

    What other types of Surety Bonds are available?

    Advance Payment GuaranteeDuty DefermentPurchase Guarantee
    Bailiff BondRoad BondsReinstatement Bonds
    Completion GuaranteeLandfill BondsRemediation Bond
    Construction GuaranteeMaterials SupplyRent Deposit Guarantee
    Contract GuaranteePayment BondRent Guarantee
    Deferred Payment GuaranteePayment GuaranteeRestoration Guarantee
    Deposit ProtectionPension BondRetention Bonds
    Development BondPerformance BondSewer / Water Bond
    Warranty Bond

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