...benefits include:

Benefits for the employer / client:

  • They guarantee the original bid; everything from workmanship to materials, costs to timelines, bids are used to provide an employer with a guarantee of the quality of the work of a contractor 
     
  • They encourage contractors to take responsibility within a given timeframe; if work is not completed to an agreed standard, or faults occur within a set period, contractors will be given an opportunity to rectify the issue, and /or employers will receive an agreed fee contributing towards any costs
     
  • They guarantee the quality of the workmanship and materials
     
  • They encourage timeliness and performance; ensuring that the contractor delivers on time and to the contract and importantly, paying out if losses are made / costs incurred from a contractor becoming delayed
     
  • They protect against losses; whether from a lost deposit if a contractor defaults or from other losses associated with delays in the project or repair costs for example.

Benefits for the contractor / your business:

  • They boost client confidence; by providing a bond, there is a contractual and financial guarantee that the project will be delivered as expected
     
  • They make it more likely you will win a tender; by showing your commitment to a project and your capability to deliver on it
     
  • They provide assurance to subcontractors, who know that you are committed to the project and will work with them. It also helps provide confidence that they will be paid
     
  • They are often mandatory, and a requirement of being awarded a contract. Having the ability to obtain a bond quickly can improve your bottom line, helping you to win large-scale projects.

Call The Channel Partnership today on 01275 817320 to discuss your surety bond needs.

What is a surety bond?

Which Surety Bond do I need?

Why choose The Channel Partnership?