Construction guarantee / bond, also known as a contract bond, is a surety bond issued by an Insurance company or a bank to guarantee satisfactory completion of a project by a contractor. A job requiring a payment and performance bond will usually require a bid bond, to bid the job.
Types of guarantees / Bonds
Tender / Bid Bonds
Performance Guarantees
Advance Payment Guarantees
Retention Guarantees
Materials On-/Off Site Guarantees