Surety Bonds When a contract is awarded, a surety bond normally equalling 10% of the contract value is required. This guarantees the performance of the contractor from the... read more →
Performance Guarantee When a contract is awarded, a performance guarantee normally equalling 10% of the contract value is required. This guarantees the performance of the contractor from the... read more →
Payment / Supply Guarantee The Payment Guarantee is used to alleviate the credit risk of repayment for the supplier. A Payment Guarantee provides the financial backing as surety... read more →
Variable Construction Guarantee When a contract is awarded, a possible option is to put in place a Variable Construction Guarantee equalling on average 10% of the contract value.... read more →
Fixed Construction Guarantee When a contract is awarded, a possible option is to put in place a fixed construction guarantee equalling 5% of the contract value as opposed... read more →
NHBRC Late Enrolment Guarantee Late enrolment occurs when a registered home builder has not complied with the rules of the NHBRC to enrol the house fifteen days before... read more →
Unused Materials on Site Bond Before any delivery of materials to site or constructed into the works, the contractor can obtain payment for the materials from the employer.... read more →
Retention Money Guarantee During the period of any contract, some employers can withhold between 5% to 10% of the value of every payment made to the contractor. This... read more →
Advance Payment Guarantee (APG) Advance Payment Guarantee provides a contractor with an “interest free loan” which is repayable before the completion of the works. The employer advances a... read more →
Construction Guarantee When a contract is awarded, a construction guarantee normally equalling 10% of the contract value is required. This guarantees the performance of the contractor from the... read more →