A Supply Bond is a type of Contract bond that ensures that a supplier will deliver materials as promised in a contract.
Protects project owners and contractors against delays and financial losses caused by supplier defaults.
o ensure the timely completion of a project and maintain a healthy supply chain.
Supplier’s financial and credit history, project details, and contract amount.
Varies based on the supplier’s creditworthiness, but generally ranges from 1-4% of the contract amount.
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