At BTL, we offer a range of contract bonds to enable you to participate in, obtain and carry out contracts under optimum financial conditions. But what exactly is a contract bond?
A contract bond is a financial guarantee that we offer your company to enable you to participate in tenders and win contracts. We offer four types of market bonds:
- The provisional bond: This bond allows you to participate in a call for tenders by guaranteeing that you will not renege on your commitment if you are declared the successful bidder. It is valid for a fixed period.
- Definitive bond: If you win the contract, this bond guarantees that the work will be completed successfully and in compliance with the clauses set out in the specifications. It replaces the provisional bond, and its amount is contractually predefined.
- Advance payment bond: This bond allows you to benefit from an advance on an acquired contract, and guarantees repayment of this advance if you fail to complete the contract.
- Retention bond: This bond gives you access to the funds withheld by the project owner at the time of each breakdown for the proper execution of the work. You can request a partial bond for each breakdown.
Contact us to find out more about our market bonds and how we can help you succeed in the business world!
