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PERFORMANCE BOND
This bond is issued on behalf of a contractor and in favor of the project owner to guarantee the contractor’s default in compliance with his obligations, liabilities and faithful performance in accordance with the contact.
In accordance with the law of guarantee the insurer shall indemnified by paying amount (s) to the owner/employer of the project in the manner specified in the performance bond after proven default i.e. the failure of performance by the contractor. Such default of the contractor or his performance shall be judged and determined by the independent professionals
DOCUMENTS/INFORMATION REQUIRED
- Proposal Form (copy attached), duly completed by the Insured.
- Request Letter
- Copy of Contract
- Copy of CNIC
- Bank Statement current six months
- Copy of Bond Specimen
- Undated Cheque duly signature verified by said bank (equal to value of Bond/Guarantee)
- Premium Cheque
- Copies of CNIC of Witnesses
- Company’s Profile
- Cash margin 10%
- Copy of Award Letter
- Copy of Company Balance Sheet
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Office:
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Mail for information:
help@insurance.alphacodic.com