Bid Bond

This Bond guarantees that the Contractor, if successful in the biding process, will satisfy other requirements prior to the execution of the contract and would not renege on the provision of performance guarantee and actual execution of the contract. The liability here arises from the cost incurred in going through another tender procedure.

Advance Payment Bond

This Bond guarantees that monies advanced by the Employer for a contract will be utilized adequately by the Contractor (who takes out this policy in favour of the Employer/principal)

Performance Bond

This Bond guarantees to pay upon the default of the Contractor in executing the contract as per the terms and specifications.