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Contractors Bond Insurance Inquiry Request :
Want to get more information about Contractors Bond Insurance? Get Contractors Bond Insurance for you and your family protection.
You may send the Inquiry Request with the following details.
Contractors Bond Insurance
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Our financial advisor / consultant are willing to assist you for a free consultation, let us do the work by matching you with your non-life protection and who are willing to help you on your general insurance needs.
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Bro. Oliver Bugarin, Licensed Financial Advisor
Contractors Bond Insurance in Philippines
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Don’t just let the water spill over the imprint.
Bond is a three-party agreement where Our Non-Life/General Insurance service provider (Surety company) assures the performance of an obligation of the Bond Applicant (Principal/Obligor) to a Third Party (Obligee/Bond Beneficiary), by virtue of the contract or as required by law.
Our Non-Life/General Insurance service provider offers various bonds for your specific needs, whether it be for construction projects, service agreements, judicial or quasi-judicial proceedings, bank requirements and licensing requirements of different government agencies.
Contractors Bond Insurance INSURANCE Coverage:
Bidder’s bond. Guarantees that the successful bidder (Principal) shall enter into Contract with the Project Owner or General Contractor (Obligee) and furnish the required Performance Bond.
Performance bond. Guarantees the full and faithful compliance by the Principal of its undertaking to complete the works in accordance with the approved plans, specifications and terms and conditions of the contract.
Surety (Downpayment) bond. Guarantees the recoupment of the downpayment given by the Obligee to the Principal through deductions from the progress billings submitted by the latter and approved by the OBLIGEE.
Guarantee Bond. Also known as Warranty Bond, it guarantees the correction and repair of hidden defects in the materials and workmanship used by the Principal in the project found or becoming evident within one year from the date of final acceptance by the Obligee.
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