Your needs
I NEED A SURETY BOND OR A PROTECTION AGAINST THE UNFAIR CALLING OF BANK GUARANTEES
In order to be able to carry out a profession, to obtain a permit or even to enjoy an extension of payment, certain legislation requires you to provide a surety bond or guarantee, often in favour of a government agency. This bond will secure the fulfilment of your legal obligations. Typical legal bonds include customs & excise bonds, permit and licence bonds (e.g. transport or broker licences), timber bonds, environmental bonds and EU regulation bonds (e.g. agro-food bonds).
To ensure you will meet your contractual obligations, your customer might ask for a surety bond or guarantee. The bond will guarantee that you will execute the contract on time and properly. Typically, such a bond is required to secure the construction or maintenance of a building, the delivery of machinery or international transactions.
Along with the execution of your export contract, you might need to prove that you are financially sound and reliable by issuing a bank guarantee in favour of your customer. What if your customer is calling on that guarantee, especially if this is unfair or illegal? Credendo can include a Bank guarantee insurance in your trade credit insurance in order to protect you against the risk of unfair calling.
Related Solutions
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Bank Guarantee Insurance
Insurance against the unfair calling of guarantees issued in favour of the foreign buyer (i.e. bid bond, advance payment bond or performance bond).
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Guarantees
If you are looking for a surety bond or a guarantee to secure your projects or contracts, Credendo will deliver tailor made solutions to meet your company’s challenges. Surety bonds play a major role across a number of business of all sizes and sectors by reducing uncertainty.