Construction Guarantees
Advance Payment Guarantee
Security against the risk of contractors defaulting on contracts after receiving an upfront payment to purchase lead items for the job.
Our Advance Payment Guarantees ensure project owners are refunded the amount advanced to contractors who subsequently fail to fulfil their contractual obligations.
This product supplements Performance Guarantees
Benefits of a PCBS Advance Payment Guarantee:
- Funds the contractor to purchase the project’s lead items, such as materials, equipment or machinery.
- Protects the project owner from losing their payment if the contractor defaults.
Apply for a PCBS Facility or Guarantee in 2 steps:
- Download and complete the relevant application form
- Email the completed form and all supporting documents to your broker or to info@pcbs.co.za
Protect your projects fast
Our quick turnaround times ensure you can confidently start your projects within days of applying for PCBS guarantees and facilities.
24 to 48 hours*
For quotes
24 to 48 hours*
For drafts
24 hours**
For original guarantees
*Once all required documents have been received
**On receipt of proof of payment