Contractors are increasingly being asked to provide Performance Bonds as a form of security that the developer or employer will be paid should the contractor default on the contract.
Plester specialises in arranging Performance Bond insurance, which underwrites the contractor’s obligation to the developer or employer and ensures payment in the event of default.
In the UK construction industry, Performance Bonds tend to be ‘conditional’, which means payment is conditional upon the employer or developer proving the loss suffered and may well involve litigation before payment is made.
With access to specialist insurers, we can arrange for Performance Bonds to be issued, enabling contractors to satisfy the contractual demands of the project and secure work.
Registered in England - K L Plester Insurance Services Ltd, Registered Number: 1868300 Registered Office: Cover House, Stourport Road, Kidderminster, Worcestershire, DY10 1HE
Whether you wish to arrange or renew insurance, please contact us. We offer an individual, personal service and will be happy to provide a no-obligation quotation. Call us on 01562 829898 or click below to send an email.