Polico Africa (Pty) Ltd, Johannesburg

PCBS products include a Performance Guarantee which is issued by an insurance company or bank to a contractor to guarantee the full and due performance of the contract according to the plans and specifications A project requiring a payment and performance bond will usually require a bid bond, in order to qualify to bid for the project A payment and performance bond will then be required of the winning bidder as a security to guarantee job completion They also offer a Bid Bond which is purchased when a contractor, or the principal, is bidding on a tendered contract with public authorities and or private owners The Bid Bond prequalifies the principal and provides the necessary security to the owner or general contractor, necessi.