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Surety bond: A game-changer for Indian EPC and construction sector
The Business Guardian
|November 30, 2024
In India's rapidly growing construction and infrastructure landscape, securing contractual obligations is paramount.
Traditionally, bank guarantees have served as the backbone for ensuring performance, payment security, and contract fulfillment.
However, with challenges such as high costs, reduced liquidity, and restricted access for many contractors, the reliance on bank guarantees is being reconsidered.
Enter the surety bond: a modern financial tool that is emerging as the perfect replacement for bank guarantees, particularly in the construction sector and for Engineering, Procurement, and Construction (EPC) companies.
This article explores how surety bonds are revolutionizing the industry and why they are a blessing for Indian EPC firms striving to thrive in a competitive and capital-intensive environment.
This story is from the November 30, 2024 edition of The Business Guardian.
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