Tailored Coverage for Uncommon Risks

Bonds and Guarantees

In today’s competitive business environment, secure your contracts and obligations with Bonds and Guarantees from Insurance Connect. Our policies provide financial security for both parties in a contract, ensuring that commitments are met. Whether you’re a contractor, supplier, or service provider, Bonds and Guarantees give you the confidence to take on new opportunities.

Bonds and Guarantees

Types of Cover

Performance Bonds

Guarantee that a contractor will complete a project according to the terms of the contract.

Bid Bonds

Provide financial assurance that a contractor will enter into a contract if their bid is accepted.

Payment Bonds

Ensure that subcontractors and suppliers are paid in full for their work and materials.

Dedicated claims support and risk management services to help you minimize downtime and maximize recovery

Bonds and Guarantees

FAQ's

What are Bonds and Guarantees?

Bonds and Guarantees are financial instruments that provide assurance that contractual obligations will be met, protecting both parties in a contract.

Who should consider taking Bonds and Guarantees?

Contractors, suppliers, and service providers in contract-based industries should consider Bonds and Guarantees to secure their contractual obligations.

What is the difference between a Performance Bond and a Payment Bond?

A Performance Bond guarantees project completion according to contract terms, while a Payment Bond ensures that subcontractors and suppliers are paid for their work.

How do Bonds and Guarantees benefit contractors?

Bonds and Guarantees provide financial security, enabling contractors to take on new projects with confidence and assurance.

Can Bonds and Guarantees be customized?

Yes, we offer customizable Bonds and Guarantees tailored to the specific needs of your contract or project.

Benefits of the Cover

  • Financial security for both parties in a contract
  • Increased confidence in contract performance
  • Protection against losses due to non-performance
  • Access to new business opportunities with assured backing