Confederation of Construction Specialists
Performance Bond
The Confederation’s Performance Bond sets an intelligent
balance between the reasonable need of the main contractor
for a rapid and certain remedy for default and the reasonable
wish of the specialist sub contractor to avoid the onerous “on
demand” trap. It is a fair but quick acting default bond which
should satisfy the reasonable requirements of both parties.
The principal revolutionary feature of the CCS Performance
Bond is the use of a neutral adjudicator to give a rapid interim
ruling on any dispute about whether or not the specialist
sub contractor is in default. This should block any spurious
try-ons by the main contractor, trying to call the bond on
the basis of a fictitious default, but should provide the main
contractor with sufficient certainty that the bond can be
called quite rapidly in the event of real default (even if the
default is denied by the specialist).
Revised Edition 2003 PRICE: £11-00 (pack of 4) +VAT
Firest Edition 1992