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Retention Monies Bonds

Retention bonds are issued in favour of any owner who has agreed to waive a contractual right to deduct retention monies from the sums due to you under the relevant contract terms, in respect of the work you have completed. The bond represents the amount of retention money that would otherwise have been withheld. This is commonly between 3% and 5% of the contract price.

Highlights

  • Allows for release of retention monies that would otherwise have been withheld

Best For

  • Main contractors
  • Sub-contractors

Why Tokio Marine HCC?

Tokio Marine HCC is a leading specialty insurance group with offices in the United States, Mexico, the United Kingdom and Europe, transacting business in approximately 180 countries and underwriting more than 100 classes of specialty insurance. Our products and capabilities set the standard for the industry, and many of our almost 3,000 employees are industry-leading experts. Each of our highly entrepreneurial businesses are equipped to underwrite special situations, companies and individuals, and acts autonomously to deliver effective solutions. 
financial strength

Our financial strength ensures our clients will always be protected.

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holistic portfolio

Our holistic portfolio of products includes more than 100 classes of specialty insurance

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Tokio marine

Tokio Marine HCC is part of Tokio Marine, one of the largest P&C insurers in the world

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