Bonds

CRL are able to provide various surety and performance bonds and guarantees. Aiming to provide flexible, seamless & tailored solutions for both complex and everyday applications, CRL can offer the following:

Contract Performance Bonds

A Performance Bond covers the damages suffered by the customer in the event of non-performance of contract by the contractor. They may be required for statutory, contractual or marketing purposes across a wide range of commercial applications. These bonds are essential within the construction industry.

Advance/Stage Payments Bonds

For large contracts, advance or stage payments are often required to assist with the contractors mobilisation or the cost of raw materials. In exchange the contractor will arrange for their surety to provide an Advance Payment Bond that will protect the customer in the event of the contractor defaulting under the terms of the contract.

Retention / Maintenance Bonds

Instead of monies being held for the duration of a contract, the

contractor can provide a bond as an alternative. The Bond guarantees that the contractor will fulfil its maintenance (or defects liability) obligations under the contract.

Road and Sewer Bonds

The Bond guarantees the completion of roads and sewers to enable them to be adopted by the local authority.

The above is not an exhaustive list of Bonds and Guarantees. If you require any other surety bond or guarantee please contact CRL directly with your requirement and we will endeavour to tailor a solution.

Advantages

•   Low Premium
•   No Insurance Premium Tax
•   Not set against liquid assets
•   Flexible, seamless & tailored bond solutions

Requirements

•   Brief Details of the proposition
•   Copy of the Bond wording
•   Latest audited accounts
•   Completed CRL proposal form