Performance Guarantees

Performance Guarantees

We have specific expertise in raising insurance-backed guarantees from leading insurers. The insurers with whom we have agency agreement are reputable and accredited with most employers in South Africa including all municipalities, state owned entities and blue-chip listed entities.

Product Description

When a contract is awarded, a performance guarantee equaling 10% of the contract value is usually required. This guarantees the performance.

Product Description

During the period of any contract, some employers can withhold between 5% to 10% of the value of every payment made to the contractor.

Product Description

A bid bond, or tender guarantee, is a safety mechanism for employers regarding contractors that may default before or on the tender being awarded.

Product Description

The employer advances a certain amount of money to the contractor for work to be completed. The advance payment can be used to purchase plant, machinery.

Product Description

Before any delivery of materials to site or constructed into the works, the contractor can obtain payment for the materials from the employer.