Unlock the money held back on your contract bills.
Project owners often hold back a portion of each bill as retention. A retention money bond can let you receive that money sooner by providing security instead. e-SureX helps you arrange it online.
Premiums and terms are set by surety providers after underwriting.
Retention money is a portion of payments that a project owner withholds until work is complete or defects are fixed. A retention money bond is a type of surety bond that the contractor provides so that the owner can release this money earlier, while still being protected.
If the contractor fails to meet its obligations, such as correcting defects, the owner can claim under the bond. Whether a bond can replace cash retention depends on the contract, so check the retention clause.
Bills are paid net of a retention percentage, which can build up over a long project.
Replacing cash retention with a bond, where allowed, can free money for the next phase of work.
Retention is often held until defects are resolved, which can take time.
Retention amount or percentage, contract value, release terms and the owner's details.
The contract with the retention clause, company and financial documents, and KYC details.
Review premiums, tenure and conditions from multiple surety providers.
After verification, the bond is issued digitally and shared with the owner.
Receive money that would otherwise stay with the owner until the end of the contract.
See bond expiry dates early so extensions or releases are not missed.
Manage retention bonds with your other bonds from one dashboard.
Requirements can vary by provider and by bond.
Start your surety journey with e-SureX.