Bonds & Guarantees
This cover protects against default by debtors/buyers in payment of receivables due to a company. Underwriting Africa Specialty Limited offers three different options to Companies:
01
Bid Bonds
Issued for contracts with a tendering process to safeguard the issuer from losses occasioned by non-fulfilment.
02
Performance Bonds
Issued to guarantee the fulfilment of a contract in its totality.
03
Advanced Payment Bonds
Protects advance payments, guaranteeing that the funds will be used as agreed.