Godiva – Advance Payment Bond
If you have a client that agrees to make an advance payment this is referred to as a down payment to a supplier, an advance payment may be required to secure the payment against default by the contractor. This is known as or referred to as an advance payment bond (APB), advance payment guarantee or advance stage payment.
Most commonly on a construction project an advanced payment bond will be required by the client if the contractor requests an advance payment to help them meet significant start up or procurement costs that may have to be incurred before construction even begins. A simple example is where the contractor has had to purchase equipment or materials specifically for the project. The bond will protect the client in the event that the contractor fails to fulfil its contractual obligations, for example if the contractor becomes insolvent.
Godiva Insurance provide you with an Advance Payment Bond giving you peace and mind and comfort from knowing that you will be able to reclaim the advance payment monies should the delivery on the contract not be complete or repay the employer in the event that something goes wrong.
Godiva Insurance – Compare Advance Payment Bond
To compare advance payment bonds with Godiva Insurance we don’t ask you to fill out lots of forms or take your valuable time calling lots of different companies. We do things differently as an advance payment bond broker, all we ask is for you to simply contact us whether by completing our contact us page or calling us on 02476 214 514 and speak to one of our advance payment bond experts.
The party or parties building the project, the investor/eventual owners, and the surety company’s all require a good value UK advance payment bond to cover their needs without paying through the roof should anything go wrong and this is where we come in hand.
Call Us Now On 02476 214 514 For A Free No Obligation Advance Payment Bond Quote