Bond Insurance

What is the object of the insurance?

This insurance covers the Insured’s liability for material loss to third parties, during the road transport contracts, as a result of finalizing the liquidation procedures of the transport company.

Who is the Insured?

The companies which make national and international road transports.

What is the coverage?

The policy covers the company’s exposure according to the laws in force.

 What is the insurance period?

Most of the times, the carrier liabilities insurance is signed for 12 months.

What are the costs of the insurance policy?

The insurance premium is calculated according to the number of vehicles, equity of the company, its experience and the insured period.

What is the object of the insurance?

The advance payment bond covers the payment of an indemnity in favour of the beneficiary, if the insured does not fulfill his payment obligations according to the contract, meaning revolving the amount received in advance, in time and subject to the stated conditions.

Who can be the Insured?

The advance payment bond may be used by production companies, equipment suppliers, outsourcers, constructors.

 What is the insured percent?

EximAsig covers a maximum 30% of the contract’s value.

What is the insurance period?

The advance payment bond can be signed for an advance recovery period as stated in the contract, but never exceeding the execution date of the contract.

What are the costs of the insurance policy?

The insurance premium is established based on the contract value, the guarantee value, the valability period of the insurance, the requests of the beneficiary, as mentioned in the contract, the experience of the contractor, the value and nature of the collaterals put at our disposal by the insured.

What is the object of the Insurance?

Paying an indemnity in case of deficiencies and technical errors which may appear after finalyzing the project, but within its guarantee period.

Who can be the Insured?

The maintenance bond can be used by construction companies, production companies, service companies, industrial equipment suppliers.

What is the insured percent?

Usually, the insurance covers maximum 10% of the contract’s value.

What is the insurance period?

The maintenance bond can be signed for 24 months. As an exception, the insurance period can be larger, subject to the specified project.

What are the costs of the insurance policy?

The insurance premium is established based on the contract value, the guarantee value, the valability period of the insurance, the requests of the beneficiary, as mentioned in the contract, the experience of the contractor, the value and nature of the collaterals put at our disposal by the insured.

What is the object of the insurance?

This guarantee is a ferm and irevocabily engagement, assumed by the Insured and the Insurer, regarding the payment of an indemnity, no more than the insured amount, in favour of the beneficiary, if the insured does not fulfill his obligations as mentioned in the contract, meaning the guaranteed obligations.

What is the insured percent?

Usually, the insurance covers between 2% and 10% of the contract.

What is the period of the insurance?                                                                                                        

According to the contractual clauses, as a rule maximum 6 years.

What are the costs of the insurance policy?

The insurance premium is established based on the guarantee value, the valability period of the insurance, the requests of the beneficiary, as mentioned in the contract and the experience of the contractor.

What is the object of the insurance?

Payment of an indemnity in favour of the beneficiay, in case of:

• the insured withdraws his offer during its valability period;
• the insured wins the auction (bid), but does not sign the contract in the specified term, as stated in the offer or the tender book;
• the Insured wins the auction (bid), but can not present the demanded guarantees for the execution of the contract, as stated in the tender book;
• the Insured contests the decision to the NCSC and it is rejected.

 What is the insured percent?

Usually, the insurance covers 2 % of the contract’s value.

What is the period of the insurance?

The bid bond is issued for a maximum period of 180 days.

What are the costs of the insurance policy?

The insurance premium is established based on the guarantee value, the valability period of the insurance, the requests of the beneficiary, as mentioned in the contract, the experience of the contractor, the value and the type of guarantees that the insured can sustain.