Burglary Policy >
Computer All Risks >
Fire & Allied Perils Policy
Money >
Good In Transit > Contractors'
All Risks > Public & Employers
Liability > Bonds & Guarantees
There are many forms of bonds in commercial use. We offer three (3) main types:
Bid Bond/Tender Bond - this undertaking is usually required once a contractor is tendering on a job. The Surety (usually an Insurance Company or other approved financial institution) can have serious obligations if the bidder secures the contract but is unable to take it up. In this case, the Surety is responsible for the amount arising from a default, limited to the bond amount.
Performance Bond - An undertaking by the Surety usually to pay compensation if the person guaranteed by the bond fails to fulfill his obligations under the terms of the Contract.
Mobilization Guarantee essentially guarantees the repayment of mobilization advances made to a Contractor by the Employer
- Contractors experience & Loss History
- Balance Sheets
- Collateral / Counter Guarantees.
 Return to top >
Previous Page |
