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.

 

 

 

 

 

 
 

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