P3 INSURANCE

Company Registration No. 53264161B

What is Performance Bond insurance?

Performance Bond is furnish to the Owner or Principal or Employer of a contract to guarantee for the due performance and observance of the terms and conditions of the contractor’s obligations when a contractor undertakes a construction project.


Key coverage

Here is an overview of your coverage

Performance Bond
This is for the Principal to ensure the contractor fulfills his contract:


  • Within the period specified
  • In accordance with the specifications in the contract

Note:
The amount guaranteed varies from 5% to 10% of the Contract Sum

How much is my premium?

  • Your  premium may vary, depending on:
  • Financials
  • Latest Registry of Companies report
  • Profit and Loss Statement for last 3 years
  • Balance Sheet for last 3 years
  • Track Record
  • List of past projects completed
  • Current projects
  • Specimen Bond Wording
  • Counter-indemnities
  • Collaterals, if any

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