Performance Bonds Insurance

A performance Bond covers the damages suffered by the customer in the event of a non-performance of contract by the contractor.

Performance Bonds: What you need to know

A performance 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. The term is also used to denote a collateral deposit of “good faith money”, intended to secure a future contract.

What should I do?

  • Obtain details of the bond amount and period
  • Copy of the bond wording
  • Copy of your latest published accounts and a copy of your latest management accounts

Get Performance Bonds Protection

Call now and let Sagar Insurances help your business to find the right protection and cover. Contact us online or call our specialists direct on 01282 858 279.