Guaranteeing performance under a commercial contract
Many companies are required to provide Bonds and Guarantees. Normally these are obligatory under the contractual relationship between the parties involved or are required to satisfy statutory regulations.
Bonds can be supported by the insurance market who provide a written guarantee to pay a third party, the beneficiary, for loss and damage suffered as a result of a breach of contractual obligation. Normally this occurs upon the insolvency of the contracting party. Bond facilities supported by the insurance market, do not normally affect existing credit lines.
For further information on Bonds & Guarantees please click on the link below.
Bonds & Guarantees Overview
Authorised
and Regulated by the Financial Services Authority No: 430825
Bad Debt Protection