A ‘performance bond’ is intended to offer compensation should a contractor fail to fulfil its contractual obligations.
Related topics
| Topic | Replies | Views | Activity | |
|---|---|---|---|---|
| JCT 2016: DB performance bond | 1 | 559 | 4 July 2019 | |
| What is a performance bond? | 2 | 2051 | 27 July 2017 | |
| Which Party provides the performance bond? | 1 | 691 | 16 October 2012 | |
| JCT DB16 - What are the key risks and benefits of advance payment? | 1 | 692 | 23 January 2020 | |
| A bills of quantities states that no certificates will be issued until the contractor has provided a performance bond. After six weeks no performance bond has been produced, but the contractor states that the architect is obliged to certify. Is this corre | 1 | 335 | 5 February 2013 |