Surety bonds are widely accepted as an alternative to bank guarantees, providing financial security to the head contractor and/or the developer. The most common bonds are Performance and Maintenance Bonds issued primarily in the construction, engineering and mining sectors. To qualify for a surety facility, underwriters generally require:
Project specific surety bonds offer an alternative to bank guarantees to the SME contracting sector. Performance and Maintenance Bonds are the most commonly issued bonds, and these are primarily in the construction, engineering and mining sectors. To qualify for a project specific surety bond, underwriters generally require:
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