Performance Bonds, Bonds, Bond, Guarantee Bonds, Construction Bonds, Surety Bond, Retention Bond, Building Bond, Guarantee Bond

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Welcome to Nationwide Sureties Limited

Nationwide Sureties have been successfully sourcing Bonds for the Construction Industry since 1999

Many Contractors and Sub - Contractors rely on their Bank to provide Construction Bonds and financial guarantees. Unfortunately the Bank takes real asset security or reduces the Contractors facilities in order to provide the service. This in many cases restricts the Contractor obtaining new contracts because of reduced working capital. Some guarantee companies require the contractor to place full cash deposits or hold a percentage of stage payments due to the Contractor, again reducing cash flow. Nationwide Sureties is in most cases able to place Bond requirements without the above-mentioned restrictions, even short trading histories may be considered.

Bonds Include:

What is required?
Simply fill out either our quick quotation form or download the Application form and a member of the team wil contact you upon immediate effect.

Tel: 0151 931 5599 | Fax: 0151 932 9273 | Email: info@nationwidesureties.com

Performance Bonds
During the course of any construction project there is a possibility that financial strain on the Construction Company may lead to insolvency and therefore failure to complete the contracted works. We arrange on behalf of our clients Performance Bonds which guarantee the performance of the contract in such a situation.

Retention Bonds
Contractors can offer Retention Bonds to Employers to get them to reduce the amount of retention required under the contract. Retentions are the bone of contention for contractors by employers holding back payments on retention, a retention bond could eliveiate this problem and increase cash flow.

Bid Bonds
Bid Bonds may be required by certain employers to guarantee the performance of the contractor prior to being in a position to tender for works.

Road Bonds (Section 38 and 104 Bonds)
These are Highways and Sewer Bonds as required by local authorities. Including the Scottish Irish equivelants. Other highways bonds can also be facilitated.

NHBC / Zurich Bonds
This is a specific type of Performance Bond required by the NHBC or Zurich when new companies register with them to cover NHBC or Zurich Guarantees.

Bid bond - A bid bond is a guarantee of serious intent by a party bidding for a contract. Can be called if bidder fails to proceed having been awarded the contract. Typically as a bid bond falls away, a performance bond is required in its place.

Performance bond - A performance bond is an insurance company's guarantee of a contractor's performance of his contractual obligations under a contract.

Advance payment bond - An advance payment bond is given as security for monies advanced at commencement of work on a contract. e.g. for purchase of materials.

Construction bond - A construction bond is given in support of performance on major contracts - similar in nature to a performance bond.

Deferred payment bond - Deferred payment bonds are used in connection with property purchase to cover deferment of purchase price or rent.

Development Bond - Development bonds are used where planning permission might be dependent on an undertaking to construct roads or sewers.

Personal guarantee indemnity - A personal guarantee indemnity insures against the calling of a personal guarantee liability (say by a company director given in support of a corporate obligation - e.g. to a landlord).

Recourse bond - A recourse bond is given in support of exporter's "with recourse liability" say to government export credit agency.

Restoration Bond (Reinstatement Guarantees) - A restoration bond is typically sought for major construction contracts, which may have a detrimental effect on the environment, and a form of performance bond is required to ensure that the landscape is restored following completion on the project. Also used for land fill waste operations, and quarrying, and may be a pre-requisite of planning permission.

Retention monies bond - A retention monies bond is given in lieu of employer making deductions or retentions from stage payments under a contract.

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