What is a Retention Bond?

Typically, a main contractor could hold up to 5% of the contract value for a period of up to 12 months. The sub contractor then has to wait for the funds to be returned at the end of the making good of defect period, this can affect business cash-flow.
A retention bond will provide the main contractor with the same level of comfort as the retention, but the sub-contractor has the real benefit of retaining the cash in their account.
For a quotation, please fill out the online application form or download and application form from our document centre. In order to confirm terms we would require the undermentioned additional information:-

Latest Company Accounts
Latest Management Accounts
Bond wording required ( If none available the we can suggest a standard wording example below)

*Specimen Wording    Retention Bond Wording