I have a new client where I will be creating a new system for them. The
project is expected to take 12 to 14 months and will be a big financial
investment for them. The client would like to require my company to obtain a
performance bond to protect their investment.
I've never heard of a performance bond used in a situation like this. I
would think that even if available a performance bond would be very
expensive. I am not sure what concerns they have that a bond could address.
I guess they are concerned about my partner and I dying or otherwise being
unable to complete the project. I don't think they would raise such concerns
if we were a bigger company.
Has anyone run into a client with similar concerns or have experience with
performance bonds? What is the best way to handle this?
Thanks,
Chris
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Christopher P. Maher
Maher Associates, Inc.
Actuarial and Computer Consulting
http://www.maherassociates.com
mailto:[EMAIL PROTECTED]
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