Parrhill Financial Services provides qualified construction contractors with credit enhancement to enable them to secure facilities (Surety), on an aggregate or project specific basis, larger than they would be able to otherwise. This service is designed to promote contractors to undertake larger working capacity, while providing surety markets with extra security.
Additional products include:
- Supplier Payment Funds: Parrhill is willing to loan certain monies to the contractor in order for the contractor to pay certain materials early and take advantage of early payment savings “discounts” made by the supplier
- Release of Holdback Funds: Parrhill is willing to loan certain monies to the contractor in an amount that is held back under “the Construction Contract” which is due and owing to the contractor after the expiration of a certain waiting period.
- Maintenance Bond Support: Parrhill is willing to indemnify for contractors requesting funds resulting from monies being held by the owner for a maintenance period of one or two years.