SURETIES & GUARANTEES
Warranty Bond
Assures the project owner that the contractor, responsible for the executed work, will promptly rectify any defects in workmanship or materials that may arise within the specified warranty period outlined in the contract. This provides the owner with confidence in the long-term quality and reliability of the completed project.
APPLICATION
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Additional Information
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Enhanced Coverage
01
Documents Required
Letter of Award / Project Contract / Agreement / Purchase Order
Latest ACRA Bizfile (within 3 months)
Latest Audited Financials
Bond Format (if any)
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Applicable To
Contractors
Suppliers
Manufacturers
Distributors
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Case Study
ABC Painting Contractor carried out exterior painting works for owner XYZ. To ensure that the paint will last for 7 years as agreed mutually by both parties, owner XYZ requires ABC Painting Contractor to provide 10% of the contract sum to them. To ease ABC’s cash flow, ABC Painting Contractor can then provide a Warranty Insurance Bond to Owner XYZ.
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