Insurance guarantee is a very good instrument that allows our clients to perform many contracts without blocking funds. Under the guarantee contract, the insurer will pay the beneficiary the amount specified in the contract in the event that the policyholder fails to meet its obligations.
We help our clients to find right solutions and negotiate guarantee lines that would enable the efficient provision of the necessary insurance guarantees.The range of insurance guarantees:
The range of insurance guarantees:
- A bid-bond guarantee – it is one of the forms of tender bond payments. In case of this particular insurance guarantee, we undertake to pay the sum of money specified in the guarantee to the ordering party – the organizer of the tender.
- A maintenance bond – This kind of insurance guarantee secures the beneficiary’s claims that arise from the quality guarantee and warranty for defects provided by the contractor. Payment for the obligations occurs when the contractor fails to remove defects or faults.
- Performance bond – In case of performance bonds, any payment to the contracting authority shall be made in the event of non-performance or improper performance of the contract by the contractor.
- Advance refund guarantee – payment of the guarantee sum shall be made in the event that the contractor uses the obtained advance payment contrary to its purpose.
- Payment guarantee – Unlike the aforementioned, this form of insurance guarantee provides security for the proper performance of obligations – they are designed to secure the payment of a payment obligation. This guarantee protects the interest of your counterparty in the event that you fail to meet your obligation to him. This insurance guarantee is rarely used due to the limited availability of this type of product offered by insurance companies.
Other insurance guarantees
Contact us to discuss other types of insurance. We will be happy to discuss your needs and prepare quotes regarding:
- Business property;
- Loss of profit and/or fixed costs as a supplement;
- Machinery and equipment breakdown;
- Insurance of construction- assembly risks;
- All-risk electronic equipment;
- A third-party insurance:
– company authorities;
– road carrier and freight forwarder.
- Motor insurance.