Security Bond
Contractual financial assurance
Security Bond Insurance
Financial Security That Builds Trust
A Security Bond, also known as a Surety Bond, provides financial assurance that a business or individual will fulfil a contractual or legal obligation.
It helps businesses participate in contracts, tenders and projects by providing the required security to the beneficiary without blocking a large amount of working capital.
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Add Ons
Advance Payment Security
Security for advance amounts received by the contractor under the contract.
Maintenance Obligations
Covers specified obligations during the maintenance or defect-liability period.
Bond Period Extension
Extension of the bond period where permitted and agreed by the insurer and beneficiary.
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Exclusions
- Obligations outside the scope of the bond
- Fraudulent or dishonest acts, where excluded
- Claims made after the bond's validity period
- Losses or obligations not covered by the agreed contract
- Changes to contractual terms without required approval
- Claims exceeding the bond amount
- Breach of applicable bond conditions
- Certain disputes or circumstances specifically excluded in the bond