Performance Bond

Performance Bond

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.