Retention

A Retention Bond from Aptic Financial Group provides assurance to project owners that any necessary post-completion defect corrections will be addressed.

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Retention-Bonds

Aptic Retention Bonds: Replace Retainage, Secure Payment

This bond replaces cash retainage, letting contractors collect full payment on completion while ensuring owner security.

  • To guarantee post-completion defect remediation for owners while enabling contractors to receive full payment without cash retention.

Retention Coverage: Typically covers 5-10% of the project value, ensuring funds are available to address any defects during the liability period.

Flexible Terms: The bond remains valid until the end of the defects liability period, offering protection against post-completion issues.

Quick Issuance: Fast processing and approval, enabling contractors to manage cash flow effectively and move forward with new projects.

Risk Mitigation: Provides project owners with financial assurance that defects will be rectified, protecting their investment.

Contractors and suppliers in sectors such as construction, engineering, and infrastructure, where projects often require a defects liability period post-completion.

Project owners who need to ensure the quality and durability of completed works without holding back payments to contractors.

For Contractors:

  • Improved Cash Flow: Allows contractors to receive full payment without waiting for the liability period to end.
  • Strengthened Client Relationships: Demonstrates a commitment to addressing defects, enhancing trust with project owners.

For Project Owners:

  • Financial Protection: Ensures funds are available to correct any defects identified after a project completion.
  • Project Security: Provides peace of mind, knowing that there is a financial guarantee for defect rectification.
  1. Application: Contractors apply for a Retention Bond from Aptic Financial Group, submitting required project details and financial documentation.
  2. Approval: After thorough evaluation, the bond is issued to the project owner as security for the defect liability period.
  3. Security: If defects are not addressed, the bond compensates the project owner up to the bond’s value.

Expertise: Aptic Financial Group has extensive experience in trade finance, offering tailored solutions for Retention Bonds.

Fast and Efficient: Our quick processing ensures that contractors receive funds promptly, enhancing project liquidity.

Dedicated Support: Our team guides you through every step of the bond issuance process, providing personalized assistance.

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