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Performance and retention bonds 

Call us now on 0800 0280 380

Impressed! Reasonable value and cover. I had a few queries and they were very good to deal with.

Mr Simon Hobson
Feefo Gold Trusted Service Award 2019

What are performance and retention bonds?

A performance bond is a guarantee given to an employer by a contractor or sub-contractor. The bond offers protection for the employer against the risk of a contractor not completing what’s been agreed in their contract.

A retention bond is a request that a percentage of a contract’s value is held back to fix defects in work completed by contractors. Usually, the amount retained is between 3-5% of the contract value.

People at desk discussing contracts

Performance bond features

  • Peace of mind for your employer as it covers their damages up to a certain limit
  • Helps confirm your financial status to employers
  • Can give you a competitive edge over contractors unable to secure a form of guarantee
Building site and a crane

Retention bond features

  • Improve cash flow by avoiding retention deductions
  • Avoid long negotiations recovering retention money
  • Give your client some protection for costs associated with remedying defects in the work
  • Access to leading UK Bond underwriters

 

Call us on 0800 0280 380

Signing a contract

Why choose us?

  • A simple, hassle-free process 
  • We work with major bond providers to find a bond that best suits your needs
  • Friendly and knowledgeable UK-based staff
  • Over 50 years of experience on the team 
  • Arranged by Kerry London Ltd, an Insurance Age Top 100 independent broker 2018, and a broker at Lloyds' of London, with access to all markets
  • Clients include small businesses to national construction firms, and all businesses in between
Building site

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