It is mandatory for the vendor of a property sold before completion to provide a complete performance bond for the building, since in the event of bankruptcy/disappearance of the vendor, an insurer must act as guarantor for the continuation of the work according to the specification as defined between the vendor and the purchaser. Where a performance bond has been stipulated, this will be converted into a reimbursement guarantee where it is established that the construction cannot be realised materially or legally.
EuroCaution proposes an innovative and flexible Breyne Act guarantee offer for promoters and contractors.
Advantages of our offer:
- Guarantee issued by a Luxembourg insurer rated A by AM Best.
- No impact on your lines of bank credit
- Guaranteed best rate (with equivalent conditions and rating).
- Flat-rate pricing possible depending on the duration of your project
- Option to take up a substantial line of credit to secure multiple projects
- Prompt decision taking in acception your dossier
- Simple administration: automatic invoicing, securities issured within 24 hours, option to automate the process through IT integration.
- Simplified release of guarantees
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