Bonds & Guarantees
When a Developer, Building or Consultancy company are about to tender for a contract, or have just been awarded a contract, inevitably they will have to up some form of bond or guarantee in place.
Bonds and guarantee are a form of insurance where the exact wording is set out in the general conditions of the contract you are entering into, this exact wording can be cast in stone with very with very little room for manoeuvre.
At Lloyds Insurances we will use our expertise and excellent access within the insurance industry in Ireland, the UK and other jurisdictions, to source a bond or guarantee for you that will match that wording exactly.
Moreover, we will make sure that the premium is the most competitive available, allowing you to proceed with the contract or bid and if applicable, access an advance payment.
We provide a range of bonds including:
- Performance Bond
- Retention Bonds
- Bid /Tender Bonds
- Construction Guarantee Bonds
- Advance Payment Bonds
- Deferred Payment Bonds
This is just a sample of the bonds we place, although we can also arrange more specialised bonds (maybe an example) tailored to your needs.
In many cases as a director you may have to put a personal guarantee in place we can also arrange personal guarantee insurance.
We work very closely with our clients to understand their exact needs and budget and always get it right.