Performance bond for contractors: key in public contracts

The guarantee for the quantitative, qualitative fulfillment of the contract.

Protection against risks during the implementation period of a public contract

If you work in the building sector (including carcassing and finishing), Coface can help you obtain new contracts while meeting your legal obligations and optimising cash flow.

Interested? Ask for a quote online, and we’ll get back to you straightaway - with no obligation

Who are the insured & beneficiaries?

The Insured

Companies registered in Romania or in other states of the European Union or associations of companies registered in Romania or in other states of the European Union.

The Beneficiaries

Contracting authorities, as defined by Law 98 on public procurement 

and

Contracting entities, as defined by Law 99 on sectoral procurement.

Which are the conditions?

  • The insured value may be a maximum of 10% of the VAT free value of the sectoral public procurement contract..
  • Performance bond must be irrevocable.
  • The performance bond must state that the indemnification will be made unconditionally, on the basis of the Beneficiary statement.
  • The period of validity covers both the period of execution of the works and the defects notification period.

Three reasons to choose performance bonds by Coface

This product is Coface's answer and contribution to the need for companies to implement public contracts in safe conditions.

Surety Bonds

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