Receive your contract advance with the right assurance in place.
When a project owner pays you an advance, it will often ask for security in return. An advance payment bond provides that assurance, and e-SureX helps you arrange it online.
Premiums and terms are set by surety providers after underwriting.
An advance payment bond is a type of surety bond that secures an advance paid to a contractor or supplier. It assures the party that paid the advance that the money will be used for the contract, and gives it recourse if the advance is not properly used or recovered.
Contracts often provide for a mobilisation or supply advance. In many cases the owner requires security equal to the advance before releasing it, and the amount covered may reduce as the advance is recovered through running bills, depending on the contract terms.
Mobilisation, material or supply advances commonly need security before they are released.
Arranging the bond quickly can help you receive the advance and begin mobilisation.
The bond terms usually follow the contract's recovery schedule for the advance.
Advance amount, recovery terms, contract value and the owner's details.
The contract or work order, company and financial documents, and KYC details.
Review premiums, tenure and conditions from multiple surety providers.
After verification, the bond is issued digitally so the advance can be released.
A clear digital process helps the advance reach you without avoidable delay.
Compare provider conditions before you commit.
Keep advance bonds alongside performance and retention bonds in one place.
Requirements can vary by provider and by bond.
Start your surety journey with e-SureX.