What is PBG (Performance Bank Guarantee) in Construction Contracts? Billing QS - Contract Engineers

Hi Friends, In this video have explained about the PBG - Clause in construction contracts, PBG stand for performance Bank Guarantee and relates to performance security from contractor side for guarantee to perform the works in accordance to the contractual terms and conditions, timely completion with proper workmenahip and quality of materials. Here you get all the details what is the PBG, main role of the performance guarantee during initial stage of bidding process of tender to award of works. Following points are covered in this video: What is PBG in construction Contracts When PBG submitted by the contractor Relation between EMD Earnest Money Deposit to Performance Bank Guarantee % Value of PBG in Contracts Commencement of works vs. PBG Guarantee Validity Period of Performance Bank Guarantee I hope all of the points keep in to his video for proper guidance and procedures and interview question for billing, Qs and contract engineers. #PBG #Factuacivilenginwering