A performance bond is a form of security provided by a contractor to a developer. It consists of an undertaking by a bank or insurance company to make a payment to the employer in circumstances where the contractor has defaulted under the contract.

For those who aren’t familiar with bonds, we’ve written a fact sheet with more detailed information

BENEFITS

• Focus works with a partner to source construction performance bonds, as this is a specialised marketplace. This ensures we can help brokers provide their clients with the contract that suits their needs

CORE COVER

• Performance Bonds for the construction industry

ADDITIONAL COVERS

• Advanced Payment Bond
• Conditional Bond
• Demand Bond
• Retention Bond

TARGET BUSINESS

• Construction industry