Bank Guarantee for Tenders
A Bank Guarantee is a written instrument issued by a insurance company to a executor (beneficiary) on behalf of the customer (principal), stipulating payment by the insurance company to the beneficiary in case of default.
Bank Guarantee Documents required by tender companies to ensure fulfillment of financial obligations to the customer.
Insured Risks
The purpose of the guarantee is to regulate the cases when the winning bidder refuses to continue participating in the tender or to enter into a public procurement contract with the buyer due to various circumstances.
The insurance company undertakes to return the advance to the buyer if after receiving the advance the provider of the product or service misuses the amount received as an advance and does not fulfill the contractual obligations.
The guarantee ensures the timely fulfillment of the obligations under the contract by the insurance company under timely and predetermined conditions if the product / service provider does not fulfill its obligations by contract.
Our Benefits
We make personalized insurance product design for your organization that stands out from any of our insurance company products by its quality.
We find terms of insurance on our product from the relevant insurance companies, analyze their quotes, and choose the best / optimal one.
We handle the full process of insurance that includes reviewing a contract with a selected insurance company, assisting with the preparation of necessary documents, managing, and controlling issues arising in the insurance process.
Monitoring involves managing service with an insurance company that helps insureds in a fair and timely settlement of insurance cases. The service also includes surveys of the insureds and management of revealed faults in service.
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