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
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
Fill in the form below and our team will be in contact shortly to give you 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.
If you have all these details ready and availible please download and complete all the forms below and send them to firstname.lastname@example.org.
General Information Form
Bank Information Form
Surety Bonds FAQs
Who does a Performance Bond involve?
A bond will involve the following three participants:
|The Surety||The Principal||The Obligee|
|Entity providing guarantee||Contractor / You||The party who requires the bond|
What other types of Surety Bonds are available?
|Advance Payment Guarantee||Duty Deferment||Purchase Guarantee|
|Bailiff Bond||Road Bonds||Reinstatement Bonds|
|Completion Guarantee||Landfill Bonds||Remediation Bond|
|Construction Guarantee||Materials Supply||Rent Deposit Guarantee|
|Contract Guarantee||Payment Bond||Rent Guarantee|
|Deferred Payment Guarantee||Payment Guarantee||Restoration Guarantee|
|Deposit Protection||Pension Bond||Retention Bonds|
|Development Bond||Performance Bond||Sewer / Water Bond|