About This Policy
Retention Bonds allow contractors to receive full payment during the project while still giving the project owner financial assurance of quality and compliance.
What's Covered
The bond guarantees that the contractor will fulfill post-completion and quality obligations. If they fail, the insurer pays the retained amount to the owner. It substitutes retention money while securing compliance.
Who Should Buy?
Contractors executing high-value or cash-strapped projects, Firms facing tight working capital cycles, Projects where retention deduction is contractually required.