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Performance Bond

A guarantee that protects both sides

A performance bond is a guarantee to the project owner that you’ll complete your contract as agreed. If you fail to deliver, the bond compensates the project owner up to the bonded amount. It’s a standard requirement for tenders and large contracts, and at ICOVER4U, we help contractors and suppliers secure bonds through our trusted insurance and financial partners, so you can take on bigger contracts without locking up your working capital.

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Protection for every part of your business

Choose the covers that fit your business, or combine them into one package

Tender Bond

Guarantees you’ll honour your bid and sign the contract if awarded.

Performance Bond

Guarantees you’ll complete the contract according to its terms.

Advance Payment Bond

Guarantees repayment of any advance payment if you don’t fulfil your obligations.

Maintenance Bond

Guarantees you’ll address defects during the maintenance period after project completion.

Secure your bond in three simple steps

1

Share your contract details

Contract value, bond type required, and project owner requirements.

2

Submit your application

We help you prepare the documents needed for approval.

3

Get your bond issued

Once approved, your bond is issued and ready to submit.

Get This Insurance

Real protection, real peace of mind

Why staying covered makes all the difference

Preserve your cash flow

Avoid tying up capital in cash deposits or bank guarantees

Keep credit lines free

Bonds don’t count against your bank facilities the way guarantees do

Win more tenders

Meet project owner requirements without financing strain

Faster than bank guarantees

Often quicker to arrange than a bank facility

Built for every kind of traveller

Main contractor

Subcontractors

Suppliers

Consultants and engineers

SMEs bidding for government or corporate tenders

It isn't legally required in most cases, but landlords, lenders, and clients often require it. More importantly, it protects your savings from a single major loss.

Typically the building (if you own it), renovations, stock, machinery, and contents, against fire and other named perils. Flood and storm are often added as extensions.

Base it on the actual replacement value of your stock and equipment, not what you paid. Under-insuring can reduce your claim payout.

Only if you add Business Interruption cover. It pays for lost profit and fixed costs during the recovery period after an insured loss.

Yes. Your landlord's policy usually doesn't cover your stock, equipment, or renovations.

In many cases, yes. Package plans can be simpler to manage and sometimes more affordable than buying covers separately.

Yes, through our takaful partners.

Frequently Asked Questions
(FAQ)