Surety bond is:
• A contract between three parties— the Principal (you), the Surety (insurance company) and the Obligee (the entity requiring the bond - municipality, ministry, state agency, operational program etc.) — in which the surety financially guarantees to an obligee that the principal will act in accordance with the terms established by the bond.
• A form of collateral on EU public procurement contracts and operational programs
• An alternative of the Bank Guarantee - does not block cash and does not impose distraints on Contractor assets
• Choice between surety bonds of licensed local and international insurers, which guarantees you the best possible price and general conditions.
• We are at your side throughout the whole process - analyzing and consulting your about the product, negotiating the best terms for your bond, signing and operating the policy.
• We work actively with the contracting authorities (municipalities, ministries, operational programs, state agencies, etc.) and we coordinate with them the wording of the policies.
• We save time by doing the administrative work.
• Our service is free of charge for the Principal (you).