Bond
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Bond is a financial guarantee. It compensates the 3rd party against loss suffered as a result of failure of insured to perform the task described
Bond Products
Bond products
1. Performance Bonds- They are used when a contractor fails to complete a contractual work.
2. Immigration/Security Bonds- They are issued to non-citizens whose conduct the insurer guarantees.
3.Customs/Import Bonds- These guarantees that, dutiable goods on which duty has not been paid do not find their way into the local market before duty is paid. Duty has first to be paid before such goods are sold in the market.
4.Advance payment Bonds
5.Retention Bonds
6.Maintainance Bonds
7.Bid/Tender Bonds
Bond