A performance bond is issued to one party of a contract as a guarantee against the failure of the other party to meet obligations specified in the contract. It is also referred to as a contract bond. A performance bond is provided by a Surety Insurance company to make sure a contractor completes designated projects.
Performance Bonds are common in construction and real estate development. In such situations, an owner or investor may require the developer to assure that contractors or project managers procure performance bonds, in order to guarantee that the value of the work will not be lost in the case of an unforeseen negative event.
We will help you file your underwritting capacities based on financial and balance sheet information as well as your curricular experience and moral solvency.
We work with both private and public institutions in construction projects, servicing and any type of comercial activity.
