Construction Payment and Performance Bonds – What Are They and What’s the Difference Between Them?

Two of the most common types of Bonds are Construction Payment Bonds and Performance Bonds. They share some similarities, but they also have many differences.  This blog will discuss the differences between the two Bond types and when each is the best option for your construction project. What Are Construction Payment Bonds? A construction payment…

Performance Bond vs Insolvency Cover

Both Performance Bonds and Insolvency Cover provide protection in construction projects, but there are slight differences. A performance bond is a type of surety bond that protects the client in the event that the contractor fails to fulfil their contractual obligations. Insolvency Cover, on the other hand, is financial protection or insurance designed to mitigate…