{"id":54367,"date":"2019-03-21T11:29:28","date_gmt":"2019-03-21T11:29:28","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=54367"},"modified":"2019-04-01T14:51:09","modified_gmt":"2019-04-01T13:51:09","slug":"performance-bonds","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/performance-bonds\/54367\/","title":{"rendered":"Performance Bonds in the construction industry"},"content":{"rendered":"<h2>Advantage Insurance looks at the role of Performance Bonds in the construction industry in 2019<\/h2>\n<p>PBC Today readers will no doubt have noticed that the use of performance bonds in the UK construction industry has become more widespread in recent months.<\/p>\n<p>Following the high-profile collapse of Carillion last year (which triggered a 20% spike in the number of UK building firms becoming insolvent, as reported in the Guardian), many are turning to performance bonds to mitigate risk.<\/p>\n<h3>The role of Performance Bonds in construction<\/h3>\n<p>Performance bonds enable the client to recover costs if a contractor they\u2019re working with on a project fails to fulfil their contractual obligations. In the past, they were primarily issued by banks, but these days clients are increasingly likely to call upon sector-specific insurance specialists like Advantage for insurance bonds.<\/p>\n<p>There are a range of reasons why our clients choose performance bonds, including providing peace of mind when working with a new contractor for the first time or mitigating risk when embarking upon larger projects. Ultimately, they are designed to protect clients if a contractor fails to meet their contractual obligations.<\/p>\n<p>The types of bond we specialise in at Advantage include performance bonds and road and sewer bonds (offering a cost-effective way of covering your sewer and road bonds insurance). If you\u2019d like to discuss performance or road and sewer bonds, we\u2019d be very happy to help.<\/p>\n<p>Advantage Insurance is a leading provider of structural defects insurance in the UK, working with leading developers and insurers to provide our clients with peace of mind &#8211; whether they\u2019re working on a \u00a350m flagship development or an individual self-build. Our case studies page gives an idea of the\u00a0<a href=\"https:\/\/ahci.co.uk\/case-studies\/\">broad range of projects<\/a>\u00a0we\u2019ve worked on.<\/p>\n<p>Tel. 0845 900 3969 or email:\u00a0<a href=\"mailto:sales@ahci.co.uk\">sales@ahci.co.uk<\/a><\/p>\n<p>Website:\u00a0<a href=\"https:\/\/ahci.co.uk\/\">www.ahci.co.uk<\/a><\/p>\n<div class=\"mk-custom-module-container\">\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Advantage Insurance looks at the role of Performance Bonds in the construction industry in 2019<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[304],"tags":[283,172717,778],"stakeholder_rel_tag":[172367],"contributor_rel_tag":[],"class_list":{"0":"post-54367","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-planning-construction-news","7":"tag-finance","8":"tag-planning-construction-insight","9":"tag-sh-ahci-advantage","10":"stakeholder_rel_tag-ahci-advantage"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v26.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Performance Bonds in the construction industry<\/title>\n<meta name=\"description\" content=\"Advantage Insurance looks at the role of Performance Bonds in the construction industry in 2019, as they become more widespread in recent months\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/performance-bonds\/54367\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Performance Bonds in the construction industry\" \/>\n<meta property=\"og:description\" content=\"Advantage Insurance looks at the role of Performance Bonds in the construction industry in 2019, as they become more widespread in recent months\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/performance-bonds\/54367\/\" \/>\n<meta property=\"og:site_name\" content=\"Planning, Building &amp; 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