Surety Bond

The Contractor runs a privately owned firm with a history of completing millions of dollar projects. Recently, they were awarded for a project to build a high-rise residential building in Spain. Bronze Wing Trading helped the Spanish Contractor to avail of this lucrative project by providing a Performance Guarantee in Construction. The Client’s Synopsis The Developer in Madrid relayed a tender for their high-rise building project. The contractor quoted their bid and won the project. But to sign the contract and to enter into the project; the project owner asked the contractor to provide Performance Bond in their favor. So, […]

An Indian trader who deals with construction supplies received a deal to supply cement in 50kg bags to a client in Liberia. The Liberian company wanted a lot of cement on an urgent basis upon the assurance of the Surety Bond. Problem: An Indian Trader Needs Surety bond The buyer asked the seller to provide them a 2% Performance Bond of the contract value. Once the buyer received a 2% performance guarantee, they have to open a Letter of Credit in favor of the seller. The seller didn’t want to lose this chance for a huge profit. So they wanted […]