Building and Construction

Guarantees for the building and construction sector

Contractual agreements call for great responsibility and usually involve considerable sums of money. Therefore there is, as a rule, always some form of security built into the contract. With the help of a construction security assurance the buyer is protected against the possibility of extra costs, penalties and damage that may arise if the contractor fails to fulfil his or her obligations under the contract.

During the guarantee period that follows completion of the contract, the assurance covers the buyer’s costs in making good deficiencies and damage in cases where, for some reason, the contractor is unable to do so. The greatest advantage of our construction security assurance is that it requires no collateral. Thus the buyer does not have to tie up capital that he or she can use elsewhere, where it will do most good.

Here you can read more about the most usual guarantees in the building and construction industry:

Performance bond
Bid bond
Payment bond
Rental bond