The insurance guarantee for the participation in bids allows its owner a greater ease for its liquidities by the fact that the well known classic cash collateral is replaced by the insurance policy issued by EximAsig Romania.
The policy certifies the fact that, in case the Insured Person, as the Tenderer within the bid, withdraws its tender during its validity period or wins the bid, but it does not sign the contract within the provided term or does not establish the guarantees for the contract execution within the provided term or submits a challenge to CNSC and it is rejected, EximAsig Romania will make the payment of a compensation to the bid beneficiary. Most of the times, the Beneficiary is a public authority, organizing the bid.
The guarantee insurance for the participation in bids from EximAsig Romania is recognized by the public authorities as a valid guarantee instrument, accepted in the tender books for the award of public procurement contracts.
Most of the times, the companies that use such an insurance policy operate in the field of road and highway constructions, of civil and industrial constructions, of hydrotechnical constructions, in consultancy, management, commerce, transport.