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Performance Bond - a type of bond in which the Surety provider agrees to pay an Employer damages in the event of contractual non performance.

Construction Guarantee Bond - these bonds are essentially performance bonds which are geared towards the construction sector and specific forms of construction contracts.

Retention Bond - a type of bond in which an Employer agrees to pay the Contractor monies which would otherwise have been held by way of retention.

Advance Payment Bond – a bond which guarantees to an Employer their upfront payment to a Contractor for goods or services.

Off-Site Materials Bond – similar to an Advance Payment Bond in so far as this bond guarantees the payments made for goods that are held by a Contractor off site before they are required for a project.

Bid / Tender Bond – a bond which is often submitted with a tender to demonstrate to the Employer the ability of the party tendering to commence the contract if it is awarded to them.

NHBC Bond – a specific style of bond which is issued to the NHBC instead of the need for a cash deposit.

Highway Act / Road Bond – a bond which guarantees to a local authority that a road, footpath or street lighting will be provided to a standard which they can adopt.

Sewer Bond – a bond which guarantees to a local water company that drainage and or sewer systems will be provided to a standard that they can then adopt.

Pension Bond – a bond to a local authority which protects them in the event that a private sector firm, who has taken on one of their former employees, fails to continue making payments to the employees local authority pension scheme should they choose to continue being members of it.

Environment Agency Bond / Scottish Environmental Protection Agency Bond – bonds in favour of theses agency for a variety of bespoke purposes.

Restoration / Reinstatement / Landfill Bonds – bonds which guarantee that land is returned to an agreed state

Transfrontier Waste Shipment Guarantee – a guarantee which provides protection to The Environment Agency for waste shipments.

Duty Deferment Guarantee / VAT Guarantee / Warehouse Guarantee – these are guarantees in favour of HMRC

Rural Payment Agency Guarantee – a guarantee from an importer to the Rural Payments Agency in lieu of a cash deposit.

 

 
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