There is no universal issuer checklist
Banks, insurers and other guarantee providers each have their own underwriting rules, forms and approval processes. What one asks for, another may not, and the information needed can change with the size of the guarantee, the contractor and the contract. Treat the categories below as a way to get organised, and expect to be asked for more or less than is listed.
Information about the contract
| Information | Why a provider may ask |
|---|---|
| The contract or tender extract that requires the guarantee | To see what is being secured, for how long and on what conditions. |
| The prescribed guarantee wording | To check whether the provider can issue it as drafted. |
| The guarantee amount and the dates by which it is needed | To size the exposure and the timetable. |
| The employer’s name and details | To identify the beneficiary and assess the contract counterparty. |
| Contract value, form and programme | To see how the guarantee relates to the contract and its duration. |
| Payment terms, retention and any advance payment | To understand cash flow and how the contractor will fund the work. |
Information about the contractor
| Information | Why a provider may ask |
|---|---|
| Company registration documents and details of directors or members | To confirm who the applicant is and who stands behind it. |
| Recent financial statements and sometimes management accounts | To assess financial strength, profitability and liquidity. |
| A schedule of work in progress and the order book | To see capacity and exposure to other contracts. |
| Bank information and details of facilities | To understand funding and cash flow. |
| Tax and statutory compliance evidence | To confirm the business is in good standing. |
| Your CIDB grading and class of works, where relevant | To place the contract within your registered capability. See the CIDB grading guide. |
Information about experience and capacity
- Similar projects completed, with values, clients and dates.
- Reference letters or completion certificates where available.
- Key personnel and their experience.
- Plant and resources available for the contract.
- Subcontractors and suppliers proposed.
Security, sureties and indemnities
A provider that pays out on a guarantee will normally expect to recover the money from the contractor. To support that, it may ask for one or more of the following. Each of them creates a real obligation, so read and understand them before you sign.
- Counter-indemnity
- A written promise to reimburse the provider for any amount it pays under the guarantee, together with its costs.
- Suretyships from directors or owners
- Personal commitments from the people behind the business.
- Cash deposit or other collateral
- Money or assets held as security.
- Other undertakings
- For example, cession of contract payments or restrictions on further guarantees.
A way to prepare
Get the exact wording
Obtain the guarantee wording and the contract clause requiring it.
Assemble the contractor pack
Prepare registration documents, financial statements, work-in-progress schedule and track record.
Decide who will sign
Identify the signatories, their authority and any personal commitments they are being asked to give.
Allow time
Start early, because assessment and documentation take time.
Plan for release
Diarise the expiry and the return of the original so the guarantee does not remain in force after it is no longer needed.
The construction guarantees overview explains how to start an enquiry.
Common questions
Will every guarantee provider ask for the same documents?
No. Each provider has its own requirements, and they can change with the amount, the contractor and the contract. Use this page to get organised, and expect to be asked for more or less.
Do I have to give personal suretyships?
Some providers ask for them, others for different security. Whether it is required is for the provider to decide. Read any personal commitment very carefully and take your own advice before you sign.
How long does an assessment take?
We cannot say. It depends on the provider, the complexity of the contract and how quickly information is supplied. Start as early as you can.
What if my financial statements are not up to date?
Recent, complete statements are among the most useful items. If they are late, tell us early so that we can discuss options. A provider decides what it will accept.
Need a guarantee for a contract?
Send us the guarantee wording and the contract extract. We will tell you whether we can assist before any application is made.
Enquire about a guaranteeAn enquiry does not put cover in place. Cover is subject to underwriting and policy terms.
Sources and further reading
- CIDB: Construction Industry Development Board (opens in a new tab) — official site, with links to the Register of Contractors and the public contractor search (checked 12 October 2026)
Related reading
- Performance guaranteesHow performance guarantees work, what to check in the wording, and what the application and assessment involve.
- Performance guarantee vs insurance explainedThe commercial difference between a performance guarantee and insurance, who benefits, who ultimately pays and the repayment obligations contractors accept.
- Construction guaranteesOverview of bid, performance, advance payment and retention guarantees, and how to start a qualification enquiry.
- Bid bondsWhat bid security is, when tenders ask for it and what to check before you submit.