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Advanced Payment Bond

ABC Construction is awarded a highway contract for $300 million by XYZ Government. Due to the high setup costs, XYZ Government agrees to pay $60 million (20%) upfront to ABC Construction where funds are to be deducted once certain contract milestones are completed. In return, ABC Construction will need to provide a bond of $60 million to XYZ Government.

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Name    : Hellen Sim
Email     : hellensim@awginsurance.com
Contact : 6922 7268