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Performance Bond is furnish to the Owner or Principal or Employer of a contract to guarantee for the due performance and observance of the terms and conditions of the contractor’s obligations when a contractor undertakes a construction project.
Here is an overview of your coverage:
This is for the Principal to ensure the contractor fulfils his contract:
Note:
The amount guaranteed varies from 5% to 10% of the Contract Sum
Your premium may vary, depending on:
This insurance is underwritten by Tokio Marine Insurance Singapore Ltd. All benefits and features mentioned here are subject to the terms and conditions of the policy. Please refer to the policy contract for the precise terms and conditions of this insurance plan. The information shown here is for reference only.
If you require assistance from us regarding any matter, please speak to your agent or contact our office
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