Research And Execution On Engineering Guarantee System

Engineering Guarantee and Engineering Insurance were led into our country as one of the international traditions in international project management, since we preceded economic developments in use of loan of World Bank at the beginning of 80's last century. Pass by 20 year's development of engineering realm, economical system has changed from planned economy to market economy. Engineering credit risk has become the bottleneck that make the roughly engineering developments market growth, because the current market mechanism is not perfect. Just promoting engineering risk management in Jiangsu province and referring to international traditions, the paper finds a foothold somewhere actual circumstance of building industry in Jiangsu province and consults the execution of engineering guarantee in our other cities. The author systematizes the thought that sets up according to the engineering guarantees the operational mode. By category of engineering guarantee, operational mode, supervisory method and homologous amendment in bid documents and construction contract item, realizing the aim which is ensuring both parties' rights and interests of owner and contractor from stage of bid invitation to stage of project completion.Aiming at the blank of current research in realm of engineering guarantee in our country, the author discusses that mode of engineering guarantee, category of guarantee, contract of guarantee, duty of guarantee and scope of guarantee according to engineering risk management and theories of engineering guarantee and puts forward the viable suggestion based on actual circumstance of the building industry in Jiangsu province. Analysis of bid bond, performance bond, payment guarantee, payment bond, guarantee for maintenance,the author probes into necessary problem in executable proceed. According to law of bid, law of contract and law of guarantee and based on examples for construction bidding and examples for construction contract, the author stipulates definitely an operation for guarantees process above in order to manipulate in practice and offers consult for putting into practice and operation about engineering guarantee of Jiangsu province.