
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?
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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
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You bypass the need to use working capital required for guarantees and as such your capital remains unencumbered
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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:
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Performance Guarantee
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Retention Guarantees
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Court Bonds
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Custom Bonds
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Customs and Excise Guarantees
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Customs Rebate Guarantees
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Warehouse Guarantees
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Electricity Supply Guarantees
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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.