Not every construction project goes right, but that doesn’t mean you have to constantly be looking over your shoulder.
Maintenance bonds are a form of performance bond relating to the maintenance (or warranty) period and are sometimes required by the owner of a construction project.
They provide security to the owner for any defective workmanship or faulty materials that may be discovered following the handover of the project and during the ensuing maintenance period, which is usually 12 or 24 months. A maintenance bond is often issued in a lesser amount than the contract performance bond that it replaces.
Get your building projects moving with the security of TMHCC’s advance payment bonds.
Because every housing development, every retail park and every industrial estate needs infrastructure.
When it comes to your commitment to deliver, your word is your bond. Make that a reality with a performance bond.
Good cashflow is crucial in the construction sector. With TMHCC’s retention bonds, you can secure contractor cashflow and your own.