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See all the news storiesContractors are often advanced sums of money by a client in order to source and secure the necessary material to get a building project started.
To protect that payment, the acquisition of a bond is often agreed at the negotiation stages to ensure that should the contractor become insolvent or the project left incomplete, the client’s advance is protected. Normally the amount of the bond equals the sum advanced.
Facilitates payments to contractors prior to work being done. This is vital for contractors’ cash-flows in circumstances when there are significant costs of mobilisation on projects or where it is necessary to pre-order particular materials or goods with long lead-in periods
Because every housing development, every retail park and every industrial estate needs infrastructure.
When it comes to your commitment to deliver, your word is your bond. Make that a reality with a performance bond.
Good cashflow is crucial in the construction sector. With TMHCC’s retention bonds, you can secure contractor cashflow and your own.
Give your clients the security they need with TMHCC’s shipbuilding and refund bonds.
