GUARATERS/ BONDS POLICIES |
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TYPE | WHAT CAN BE COVERED | PERILS COVERED |
Bid Bond | The Bid Amount | The Bidders/ Contractor’s ability to take up the Bid |
Performance Bond | Performance Amount | The Contractor’s ability to deliver to required standard and within agreed time frame |
Advance Payment Bond | Advance Amount | The contractor’s utilization of advanced monies on the project |
Retention Bond | Retention Amount | The Contractor’s ability to adhere to defects liability Requirements |