181-A, Sindhi Muslim Co-operative Housing Society, Karachi – Pakistan
- Get A Quote
-
Feedback
X
Give Us A Feedback
)
Bond & Surity Insurance
Reliance Insurance
Bond & Surity Insurance
Contractor undertaking the construction of public works like buildings, roads,
bridges, dams, civil works etc. usually require to furnish guarantees / bonds for
the fullment of their contractual obligations to the principals.
Traditionally Bid Bonds, Advance Payment / Mobilization Bonds, Performance
Bonds, Maintenance Bonds and Customs & Excise Bonds are available.
Mobilization Bond/Advance Payment Bond:
MB/APB Bond secures the Principal against the amount advanced by him to the Contractor for the mobilization of Contract work.
Performance Bond:
Performance Bond issued on behalf of the contractor, guarantees fulfillment and performance of contract work to the Principal as per Contract.
Customs & Excise Bond:
On submission of the above bonds the Collector of Customs & Excise release the imported raw material/machinery without prior payment of customs and excise duties. This allows time to the importer for payment of such duties.
Supply Bond:
Such a bond is issued in favor of the Principal against the due performance of the contractor in respect of the supply of the subject material.
Retention Money Bond:
This bond is issued in favor of the Principal on behalf of the Contractor to get the retention money released by the Principal.
