Custom Bond Customs & Excise require that every commercial importer/exporter maintains this bond to cover any shortfall created by an under-declaration of the tax due on imports and/or exports. Leadway’s Retention Bond guarantees to pay to Customs & Excise any such differential detected, though credit risk financing is excluded.
Advanced Payment Bond The Leadway Advanced Payment Bond is intended to provide comfort to the principle that the payment made will be utilized by the contractor in line with the underlying contract. This policy guarantees the principal that, if the contractor defaults, the principal will be able to recover its money.
Performance Bond A performance bond is a surety bond issued to guarantee the satisfactory performance of a contract, according to its specifications, by a contractor. This guarantees the performance of the contract in line with the specifications and requirements as specified in the contract agreement or letter of award.