Mobilization Advance bond is required by the project owner to ensure that the funds which have been advanced to the contractor will be properly utilized for the project work only. This guarantee covers the un-recovered amount of the bond by the project owner which has not been adjusted by the contractor or the bond value whichever is lower. Mobilization Advance Bonds are usually issued from the commencement of the project and not on the running projects.

Providing guarantee against the advance of funds given by the project owner to start the work

 

If the contractor is unable to execute the work with the given advanced funds then the project owner is entitled to extend this guarantee till the satisfactory completion of the project is achieved in accordance with the terms of the contract.

In order to facilitate assessment and issuance of the bond, we require a few pieces of financial and technical information and documentation to accompany the request for cover.