Fri 08 Jul 2016

Big Win for CCF Advocacy – Insurance Bonds Will Now Be Accepted by TasWater

TasWater has advised that from the 1st of July, 2016, they will be accepting insurance bonds as an alternative for contractor financial security.

This win is the result of CCF Tasmania working cooperatively with TasWater on behalf of our Members who were experiencing increasing challenges due to being required to tie up large sums of capital for extended periods in order to provide bank guarantees for TasWater contracts.

The alternative of insurance bonds will allow these Members to tender competitively and enter into contracts with TasWater, without the burden of tying up the capital they need to order to operate and grow their businesses. This is a huge win for CCF Members and the Tasmanian Civil Contracting industry.

TasWater has developed an internal framework to support their new position, and has developed guidelines for acceptable insurance bond terms.

CCF Tasmania is proud to have delivered this great result for Tasmania’s Civil Contractors.