Welcome to WFJ Services, leading construction guarantees specialists in South Africa. As specialists in the guarantee sector regarding all private, government and municipal awarded contracts, we manage the needs of all employers, suppliers, and engineers.

Our combined experience of more than 18 years as construction guarantees specialists has assisted our clients with the lowest possible facility rates and the best and most affordable structured collateral rates. In addition, we help our clients by limiting their exposure in paying collateral and expenses and ensuring they have the cash flow to establish a site and be as productive as possible.


Services

We offer several services through our work as construction guarantees specialists.


Advance payment guarantees

This type of bond is prescribed when the principal agrees to advance payment to the contractor for works not yet executed and helps to improve the contractor’s cash flow. The payment is recovered from payments due to the contractor in interim certificates until the debt is extinguished. Advance payment guarantees are usually issued in conjunction with performance bonds.


Letters of intent

These are a tender requirement through which the tenderer binds himself to his tender after submission and until the contract is awarded to him or until the tender is cancelled or awarded to another contractor.


Maintenance bonds/guarantees

Maintenance bonds protect against defective workmanship or materials after completion. Occasionally, these bonds may incorporate an obligation guaranteeing efficient or successful operation. They may also be admitted in place of the retainer of up to 10%, usually required by contractors.


Payment guarantees

This guarantees the payment of either services or supplies. For example, a contractor may wish to secure payment by the owner or a subcontractor from the contractor. Likewise, suppliers who do not want to insure their debtors using conventional credit insurance may elect to secure payment by a debtor through a payment guarantee.


Performance guarantees

These are the most commonly issued guarantees and guarantee the contractual performance of the contractor in terms of the underlying principal contract.

Retention guarantees

In addition to requesting a performance guarantee, the employer will insist on withholding a percentage of payment due to the contractor for the continued performance of the contract. He may allow the contractor to produce a retention guarantee instead of cash retention. This may occur during construction or after the completion of the works during the maintenance period.


Suppliers guarantees

This creates the same rights and obligations as a performance guarantee whereby the guarantor guarantees the supply of goods in terms of a contract supplier.


Request a quote

Request a quote from WFJ Services today. We have friendly staff who will assist with your insurance needs and promise a quick turnaround time.


Contact WFJ Services for details

Contact us today for more information about our services as construction guarantees specialists.