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Performance Bond

Failure of Contractor is not at pace or fails, if according to terms & conditions

After a bid is accepted and a contract is awarded, a performance bond is needed to ensure that the contract will be completed in whole and on schedule in accordance with the plan and specifications. The insurance company will be responsible for paying the bond amount to the owner upon demand if the contractor does not complete the work in compliance with the terms and conditions of the agreement.

Preliminary Information Required
  1. Latest Company Profile
  2. Last Three Years Audit Balance Sheet
  3. Bank Certificate
  4. Last Six Months Bank Statement
  5. Copy of Owner’s Valid CNIC
  6. Request Letter of Client mentioning the required amount of Guarantee Contract Value, Time Period Required, and Description of Contract
  7. Bond Specimen (wording)
  8. Signed Copy of Contract
  9. Work Order
  10. List of Authorized Signatories
  11. Valid PEC License
  12. FBR Certificate
  13. Detail of Work in Hand
  14. Detail of Work Completed