Trade and Construction Guarantees

What Trade and Construction Guarantees Insurance offers

Construction Guarantees

The construction industry requires a broad range of guarantees, the full complement of which our expert guarantee underwriters cater to, includes:

• Bid Bonds /Guarantees
• Performance Guarantees
• Advanced Payment Guarantees
• Materials Off-Site and On-Site Guarantees
• Retention/Defects Liability Guarantees
• Supply Guarantees
• Utility Guarantees

Trade Guarantees

These are guarantees that typically cater for industries such as freight forwarding, clearing and logistics. Such guarantees include:

• Customs Guarantees (Deferred Duty & VAT, Bonded Warehouse, Road, Temporary Import, Customs Rebate, Manufacturer of Excisable Product)
• Commercial Fuel Guarantees to Fuel Majors
• Airline Guarantees

Some of the major benefits of the Insurance backed guarantee are:

• Provides the employer/supplier comfort against non-performance of contractual obligations and therefore increased costs of completion or non-payment
• Provides the client with increased cash flow and working capital
• Protects the client against non-payment of retained funds in the absence of a guarantee, should the employer not be in a position to make payment