BID BONDS
Bid bonds are essentially financial promises. They tell the project owner that you’ve submited a bid for job in good faith and you intend to commit to the contract at the price you’ve quoted. In other words, bid bonds guarantee project owner that you’ll proceed with the job based on your proposed contract.
Advance Payment Guarantees
This guarantee protects the client when they pay a contractor in advance. It ensures that the contractor uses the advance payment as agreed, and if they fail to deliver, the client can recover the money.
Performance Guarantees
A performance guarantee assures the client that the contractor will complete the project as per the contract terms. If the contractor fails to meet the agreed standards or deadlines, the client is financially protected.
Retention Bonds
Instead of withholding part of a contractor’s payment until the end of the project, a retention bond allows the full payment to be made. The bond gives the client peace of mind that any defects will still be fixed during the defect liability period
Contractor's All Risk (CAR) Insurance
CAR insurance covers a wide range of risks during construction. It protects both the contractor and client against damage to the project works and third-party claims for property damage or injury.