In today’s fast-moving construction environment, risk management isn’t just a formality—it’s a necessity. With tighter margins, growing regulation, and high stakeholder expectations, contractors and developers need tools that deliver real protection, not just paperwork. Two of the most valuable tools? Performance Bonds and Insurance Backed Guarantees (IBGs).
At Checkmate, we help demystify these products—providing fast, reliable solutions that support your project at every stage.
What Is a Performance Bond?
A Performance Bond is a type of surety bond that guarantees the contractor will meet the obligations of their contract. If the contractor fails to complete the job as agreed, the bond provides compensation to the developer or project owner.
Performance Bonds are commonly required on public and large-scale private projects, but they’re becoming increasingly standard across the board—for good reason.
Why they matter:
- They protect project timelines and budgets
- Offer reassurance to funders, joint venture partners, and end buyers
- Strengthen your credibility during the tender process
Checkmate works with reliable sureties and offers efficient turnaround times—so you get bonded protection without project delays.
What Is an Insurance Backed Guarantee (IBG)?
An IBG is a policy that protects the customer if a contractor is unable to honour their workmanship or product guarantee due to insolvency. It kicks in when the original provider of the guarantee is no longer around to fix issues.
Think of it as added peace of mind for both residential and commercial work—especially in sectors like roofing, glazing, insulation, and renewable installations.
When to use an IBG:
- As part of a handover package to give clients long-term assurance
- When offering workmanship warranties (up to 10 years)
- To support contract requirements on high-value projects
With an IBG from Checkmate, your promise to your client stays intact—even if the unexpected happens.
Two Products. One Purpose: Project Certainty.
Whether you’re delivering a single build or managing a large portfolio, Performance Bonds and IBGs offer reassurance, reduce financial risk, and help secure stakeholder confidence from start to finish.
At Checkmate, we combine insurance expertise with sector insight—delivering fast quotes, flexible terms, and the service you need to keep moving.
Need a Performance Bond or IBG for an upcoming project?
👉 Contact Checkmate today for a tailored quote and dependable protection that works when it matters most.
