Maintenance Bond

Maintenance Bond

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.