Performance guarantees
Performance guarantees provide security for both the contractor and the client by ensuring that the agreed terms of the contract are fulfilled. Through Konkretia Rahoitus, you can obtain these guarantees quickly and on clear terms, without long processing times or complicated application procedures.
Performance guarantees – what are they?
A performance guarantee is a financial assurance that ensures the contractor will fulfil their obligations under a contract. It provides protection for both the client and the contractor throughout the project, from the start of the work to the end of the warranty period.
A performance guarantee can cover different stages of a project, such as the tender phase, the execution of the work or the warranty period.Its purpose is to build trust between the contracting parties. If the contractor is unable to complete the work as agreed, the guarantee helps protect the client financially against possible losses.
Konkretia Rahoitus offers flexible performance guarantees for companies of all sizes. You can obtain a guarantee quickly and on clear terms, without lengthy application processes or the bureaucracy often associated with bank guarantees. This allows your company to focus on what it does best: delivering projects and growing the business..
Performance guarantees – what are they?
Performance guarantees cover both work-phase guarantees and post-completion warranty guarantees, protecting the contract between the client and the contractor at each stage of the project. A performance bond ensures that the work progresses as agreed and that any defects are corrected during execution, while a warranty bond ensures the quality of the work even after completion.
Guarantee limit – instant access to performance guarantees
Konkretia Rahoitus offers a guarantee limit that allows your company to manage several projects flexibly. Once your business is granted a performance guarantee limit (bond facility), you can use it to issue new guarantees for different projects immediately, without submitting separate applications for each one. This speeds up project start-up and reduces administrative work.
Individual performance guarantees
Do you only need a guarantee for a single project? We also provide individual performance guaranteesthat are issued quickly and on clear terms. This is an ideal solution for companies that do not need multiple guarantees continuously but want to ensure contract security when required.
Contact usand we will help you choose the most suitable way to manage your performance guarantees, with flexibility and reliability.
FAQ
Frequently Asked Questions
Can an individual apply for financing on behalf of a company?
Yes. A company’s responsible person or owner can handle financing matters on behalf of the company, and we assist throughout the entire process if needed.
Can I apply for financing without a Finnish personal identity number?
Yes, it is possible. We have arranged financing solutions for companies whose owners are foreign or do not have a Finnish personal identity number.
Can I apply for financing if I already have existing loans?
Yes, you can. We review the company’s overall financial situation and evaluate how new financing can be structured alongside existing commitments or as part of a refinancing arrangement.
How long is a financing decision valid?
A financing decision is typically valid for 30 days. If the company’s situation changes, it can be quickly updated.
Blogs
Views, thoughts, experiences
Suomi 
Svenska 
English (UK)