Page Categories: Bonds

Thursday 14th March 2024
Who pays for a performance bond?

What are performance bonds? A performance bond guarantees that a contracted party will complete a project to spec and on time for the other party in the contract. If the contactor fails to meet the agreed requirements, a guarantor (usually a bank or insurance provider) will pay the other party. In most cases, the guarantor […]

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Thursday 14th March 2024
When are performance bonds required?

What are performance bonds? Performance bonds are a type of financial guarantee. They are issued by a guarantor (a bank or insurer) on behalf of a builder or contractor, to the other party in a project contract (i.e. the client). Under the bond, a certain amount of money will be paid to the client if […]

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Thursday 14th March 2024
What are performance bonds?

What does ‘performance bond’ mean? A performance bond is a guarantee, usually issued by a bank or insurance company on behalf of a building company (or a sub-contractor). If the builder or sub-contractor doesn’t complete a building project as agreed, the guarantor (i.e. the builder) will cover the client’s costs for completing the project. A […]

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Thursday 14th March 2024
How are performance bonds calculated?

What is a performance bond? A performance bond is a type of guarantee for contracted work. If you’ve been asked by a client to provide a performance bond, you will need to apply for one with an insurance company. The performance bond acts as financial ‘promise’ that you will fulfil your contractual obligations and deliver […]

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Monday 27th November 2023
Apply for a bond

To apply for a Surety Bond please complete the form below and we will be in touch shortly. Alternatively, you can download the form and complete it offline, returning it to us via email or post: Surety BondsKerry London Ltd5th Floor40 Lime StreetLondonEC3M 7AW bonds@kerrylondon.co.uk

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