Advance Payment Guarantee
Assure your project owners that any advance payments will be safeguarded and properly utilized.
An Advance Payment Guarantee ensures that money paid upfront by the project owner to the contractor will be used as intended. If the contractor fails to fulfill the contract, the issuer reimburses the project owner up to the guarantee amount. It promotes accountability and trust in contractual relationships.
Why is an advance payment guarantee important?
- Protects project owners against misuse of advance funds
- Ensures contractors fulfill agreed obligations
- Increases contractors’ chances of winning contracts
- Improves business credibility
Want to know more about Advance Payment Guarantee?
Talk to one of our insurance advisors today for a free personalized quote.
