A Bond is a guarantee issued by an Insurer to a Contractor for which the sum insured will be paid in the event of the failure of the contractor to carry out his obligation as specified in terms of the contract. It ensures that a third party who is the person or entity applying for the bond will meet its contractual obligations.
The insurance bond is an undertaking by the insurer to accept responsibility for the performance of the contractual obligation.
We offer various types of bond insurance:
- Performance Bond
- Advance Payment Bond
- Tender for Bid Bond
- Customs Bond
- Credit Bond
- Supply Bond
- Counter- indemnity/Guarantee Bond