This is a type of insurance whereby an insurance company guarantees scheduled payments of interest and principal on a bond or other security in the event of a payment default by the issuer of the bond.
We offer the following types of bonds;
Are you participating in a tender or a bid for a contract? We offer bonds to bidders as a guarantee that they will tender and execute the contract for the tenderer.
2. Immigration bond:
These are security guarantees and forms part of the statutory requirements for foreign nationals who are seeking work permit/visas in Kenya.
3. Performance bonds:
We also offer Performance bonds which are guarantees taken out by contractors as part of the Contract agreement with principals. They materialise if the contractor fails to perform or execute the contract as per the contract specifications. Upon completion of a contact, the contractor must provide a completion certificate so that the bond is released by the insurers.
4. Customs bonds:
There are various classes of customs bonds. These covers are taken out as part of statutory requirement to cover goods being imported into the country or in transit and whose duty has not being paid. These bonds are released once the duty for the goods has been paid.