Construction

Despite the continued vulnerability of the construction industry, contractors’ knowledge of the insurance products available to them is low.

Even a market gearing towards recovery can pose a significant risk as the order book grows and short term cash flow comes under pressure. At this time it is more important than ever to understand the range of options that can allow you to attack your market - safe in the knowledge your cashflow is protected.

We work with numerous firms in the construction industry, including main contractors, suppliers and sub-contractors.  The trading terms and triggers which are unique to this sector require bespoke solutions informed by a dedicated expert resource.

At CBF we recognise that one contract withholding payment can very quickly jeopardise the whole business and it's supply chain. We work closely with you to identify what level of policy you need, creating an early warning system that gives you more security and a strong competitive advantage.

The insured debt covered by our policies can include:

• Work certified and not paid
• Work done on site after the last valuation
• Work done outside the policy period where cover is extended
• Variations properly instructed
• Dayworks properly authorised
• Infixed materials and goods on site and/or off site
• Design fees properly incurred
• Retentions and/or final account balances certified in the policy period, or outside the period where cover is extended
• Sums not due by the contractor due to the operation of a Pay When Paid clause
• Sums falling due under an adjudicator’s binding decision
• Related and properly claimable statutory interest
  

As industry experts, we can manage the technical aspects of your claim. We also offer specialist financial services such as funding, including the equivalent of invoice discounting and factoring, to strengthen your cashflow and support growth.

To find out how we could reduce the risk to your business, please contact our Account Management team.