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BCSA Performance Bond survey

Performance Bonds are sometimes requested when signing a sub-contract order as a form of performance guarantee usually for the benefit of your immediate client. They usually secure around 10% of the sub-contract sum and the sum is called upon if the sub-contractor fails to perform the sub-contract works or becomes insolvent.

BCSA would like to know whether Performance Bonds have been a problem for member companies, particularly in times of economic downturn when companies may be asked to provide (more) payment or performance security.

The link to the survey is contained within the attached memo, and takes a maximum of five minutes to complete.

Deborah Harrison

Legal Director

deborah.harrison@steelconstruction.org