Performance bonds - The BESA
PAGE SECTIONS: BESA BESA TOP: BESA

Performance bonds

This issue focuses on the use of performance bonds (parent company guarantees and retentions are dealt with elsewhere)

Published: January 0001
Pages: 4
BESA Product Code: LC 63

There are three collateral arrangements that can be used to secure the performance of the obligations undertaken by you. This issue focuses on the use of performance bonds (parent company guarantees and retentions are dealt with elsewhere).

Remember, under most forms of contract, if you fail to perform, the Beneficiary will have recourse to a retention fund in addition to his other contractual remedies, such as set-off and arbitration. A bond therefore gives the Beneficiary additional security for your performance.

 

Average Rating: (0 Reviews)
Questions & Comments (0)

Why join BESA?

Find out more about how BESA can help your business and the benefits available to members.

Read More

Find a BESA Member

Use our simple, fast member search function to find a BESA Member for your next project.

Read More

Why Use a BESA Member?

Find out why you should use a BESA Member for your next project.

Read More