The ONE Construction Guarantee is one of the leading guarantee products in the construction industry.
- Construction companies with successful track records of having completed projects on time and within budget, while maintaining the highest quality standards
- This insurance guarantee is widely accepted in the construction industry as an alternative to bank guarantees
- It is tax efficient, and competitive in pricing and collateral terms
- Contractors can apply for bond facilities to cater for future bond requirements as and when new contracts are awarded
- Facilities are an efficient way to access guarantees especially due to small timeframes afforded to provide bonds after the project has been awarded.
- Performance guarantees this product guarantees the full and due performance by the contractor of the contract according to plans and specifications.
- Retention guarantees this product provides a guarantee against defective workmanship or materials after completion
- Advance payment guarantees this type of guarantee would be issued in the case where the employer is pre-financing a contractor by way of advance payment - with this product the employer secures the repayment of the advance given
- Bid or tender guarantees bid bonds are required with the submission of tenders for contracts
- Up to R100 000 000 per client or group of clients
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