Guarantee Insurance

What is Guarantee Insurance?

A form of guarantee, given by the seller in a contract, that in the event of the terms of the contract not being fulfilled, the buyer will be able to claim compensation in the form of a Guarantee Insurance policy.

Why opt for Performance Guarantee Insurance instead of a bank guarantee?

  • Contractors are often required to produce evidence of a guarantee policy when tendering for a contract. A guarantee facility will mean your bid will meet the financial risk guarantee requirements of a tender contract
  • You bypass the need to use working capital required for guarantees and as such your capital remains unencumbered
  • You avoid providing 100% bank approval (whose acceptance criteria are strict and onerous) for the full amount of the required guarantee

Types of Guarantee Insurance we offer:

  • Performance Guarantee
  • Retention Guarantees
  • Court Bonds
  • Custom Bonds
  • Customs and Excise Guarantees
  • Customs Rebate Guarantees
  •  Warehouse Guarantees
  •  Electricity Supply Guarantees
  •  Fuel Supply Guarantees

For more information and professional insurance advice about our Guarantee Insurance policies, please don't hesitate to contact us at Chadwicks, Cape Town.

 

 

 

 

 

 
 

Newsletter Signup

Sign up for our newsletter here

* All fields are compulsory except company

Name:*
Email:*
Company:
Phone:*
   

Quick Contact

Name:
Email:
Phone:
What is
6 + 6?:*
Request:
   
*Math question is for Spam prevention purposes

Newsroom

Strict Product Liability on the cards

2009-06-24

The new Consumer Protection Bill, which has now been enacted, will have far reaching consequences for South African business in that Section 68 imposes Strict Liability on producers, distributors or suppliers to supply or manufacture goods free of defect...  


Read More...

Late Claim Notification may mean "No Claim"

2009-03-30

The rule of thumb to avoid falling victim to a claim denied on the basis of Late Notification is to notify your insurer and /or broker of any event that may give rise to a claim, no matter how small or trivial the event may seem. Rather let your insurers take whatever action they deem fit – this is after all why you pay them insurance premiums

Read More...