Nationwide Sureties is a Construction Bond Specialist company, Regulated by the Financial Conduct Authority, arranging Bonds and Guarantees for all aspects of the construction industry.
Over the last 21 years, Nationwide Sureties have become one of the largest and most successful Construction Bond Specialists, arranging Bonds and Guarantees for all aspects of the Construction Industry. As specialist Bond brokers, they have a panel of over 16 underwriters who are capable of tackling every customer requirement.
Nationwide Sureties clients range from small independent companies to blue-chip establishments, and their dedicated team treat every client with the same level of commitment, regardless of the size of their requirements.
A Construction Performance Bond is a guarantee, typically with a value of 10% of the contract price (though this may vary in some cases). It is designed to offer protection to the employer/ beneficiary against any losses and/or damages sustained as a result of the contractor failing to perform its contractual obligations.
A Construction Performance Bond is a tripartite agreement and is designed to offer some protection to the beneficiary in cases where the contractor fails to perform the contract.
The reasons for such failure could be insolvency, default or any other actions as defined in the contract or bond wording.
In the case of a dispute, the first action would be for the contractor/sub-contractor to remedy the issue, if that fails and a call is made on the bond the surety will investigate the matter, if the claim is valid the damages would be established and ascertained in accordance with the contract.
Nationwide Sureties are the leading provider of Construction Performance Bonds in the UK.
We source only the best and most highly competitive quotations from multiple providers specific to your project. Ensuring the best possible costs and terms for you.
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What is a Construction Bond?
A Construction Performance Bond is a guarantee, typically with a value of 10% of the contract price (though this may vary in some cases). It is designed to offer protection to the employer/ beneficiary against any losses and/or damages sustained as a result of the contractor failing to perform its contractual obligations.
