Construction Guarantees

Supplier Surety

Financial protection for suppliers within the construction industry against non-payment by contractors.  

Our Supplier Surety secures suppliers against non-payment for goods, such as steel and other building materials. 

Benefits of a PCBS Supplier Surety:

  • Protects the supplier against loss if a contractor fails to pay for their order. 
  • Secures payment for big orders for large-scale projects.  

FAQs

A Performance Guarantee is usually 5% or 10% of the contract value. Get a personalised premium estimate for your guarantee in seconds.

  • PCBS prepares a guarantee quote within 24 to 48 hours of you submitting the required documents.  
  • A draft guarantee is ready 24 to 48 hours after you’ve submitted the required documents. 
  • An original guarantee is issued 24 hours after receipt of your proof of payment. 

The most common Construction Guarantees are Performance Guarantees, Retention Guarantees and Advance Payment Guarantees.  

  • Performance Guarantee: a contractor’s financial commitment to meet defined performance standards. 
  • Retention Guarantee: financial protection against defective work for a certain period after project competition.  
  • Advance Payment Guarantee: ensures the project owner is reimbursed if the contractor fails to perform after receiving an upfront payment. 

The minimum premium for a PCBS guarantee is R5 000.00 (excluding VAT and fees).  

The minimum guarantee policy period is 6 months, and the maximum period is 36 months (including a maximum maintenance period of 12 months).  

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  

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