DRS Bond Management, based in Croydon, Surrey, UK, has announced that they are offering to arrange advanced payment bonds. They have also provided new information explaining what advanced payment bonds are. This information can be accessed through http://drsbonds.co.uk/products/advance-payment-bonds.php.
"An Advance Payment Bond is a type of bond that protects the beneficiary by guaranteeing upfront payments for goods or services needed under the contract following, either insolvency or, the misuse of funds," explains Chris Davies from DRS Bond Management. "We have an approved list of investment grade sureties (typically "A-" Standard & Poor's or higher) to meet the requirements of Bond beneficiaries."
The company is also providing information on the importance of sureties and what they mean. Full information is available on http://drsbonds.co.uk/surety.php. Essentially, sureties are needed in order to fulfill all the necessary bonding requirements. As such, a surety is like a guarantee that payment will be made. This is generally done by a third party, who will agree to pay the debt should it be defaulted on.
"It is important to understand that a surety is not a form of insurance," adds Chris Davies. "This is because risk is never transferred. Rather, it is a performance guarantee. If payment is made in full, the surety will be returned to the contractor. The only one at risk, therefore, is the person providing the surety, as the contractor could become insolvent."
DBS Bond Management warns that too many people believe that sureties are automatically provided. This is because, in many cases, a surety is also an insurance company. However, this does not mean that they will automatically be handed out, and the company is at hand to help people find both advanced payment bonds and the necessary sureties. This will ensure that all bonding requirements are actually met and that work can commence in earnest.
As can be seen on DBS' website at http://drsbonds.co.uk, they are there to help people with advice, information and guidance on these types of situations. They encourage anyone to contact them, either for further information or to ask any pertinent questions.
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Contact DRS Bond Management :
Chris Davies
chris.davies@drsbonds.co.uk
"DRS Bond Management Limited Park House 22 Park Street Croydon Surrey CR0 1YE "
