Clients under spotlight after bond bombshell

Clients are being urged to ease bond conditions as contractors struggle to get cover in a tightening market.
The Enquirer revealed yesterday that insurance giant QBE is pulling-out of the construction bonds market for major contractors.
The news sent shock waves through the industry raising fears that new projects could be delayed.Now contractors are calling on clients to ease bond requirements to avoid the market stalling.
Clients typically demand a performance bond covering 10% of the contract