Novation Services

Novation Services

AJAX Novation is managed by Mr Kelvin Siew, who is experienced in the construction industry and has an extensive network of main-contractor and sub-contractors. The company serves as a first contact point for Insurers whenever a bond is called (or high tendency of being called) and responds swiftly to solicit the Principal, the main-contractors and / or Sub-contractors to fulfil the following objectives:-

  • To save the the Performance bonds from being called in the first instance
  • To prevent construction project delays and long process to re-tender the project
  • To faciliate smooth transition of new sub-contractor to take over existing contractor undergoing financial insolvency
  • To deploy Quantity Surveyor to verify cost sufficiency to cover remaining phases of construction project
  • To assist Insurers to draft paperwork for Principal to assess new sub-contactor
  • To assist Insurers to draft Novation Agreement between Principals and contractors
  • To facilitate documentation for Insurer to issue a fresh bond for new contractor
  • To facilitate exchange of bonds with Principal and discharge the previous bond

Together with our member companies in Singapore, AJAX Novation complements our existing services for a comprehensive and seamless process to provide a one-stop claims solution for Insurers

For more information, please email info@ajaxadjusters.com or alternatively assign a case online.

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