Bond is a guarantee issued in favour of the Principal/Employer on behalf of the Contractor by the Insurance Company in connection with the Project allotted to the contractor. Employer will be indemnified by the Insurance Company if contractor fails to perform his contractual obligation.
Following three types of bond are being issued by AIL:
- Bid Bond
- Mobilization Advance Payment Bond
- Performance Bond
- Contractor profile
- Award letter / detail of bid
- Balance sheet audited by Chartered Accountant for last three years.
- Detail of project completed / in hand
- Nature / location of project
- Proposal form duly completed, stamped and signed.