• SHARE

In an effort to push heavily indebted major general contractors toward consolidation, the infrastructure ministry decided Friday to triple the yen figure of completion guarantees for large-scale public works projects.

The required guarantees, now set at 10 percent of the contract value, are paid by contractors if they go bankrupt and fail to finish their projects. Most construction companies conclude insurance contracts to cover the guarantee.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW