Zurich mainly offers surety facilities and issues all types of Bonds and Guarantees for clients operating in many different industries. The following are examples of the types of Bonds most commonly required:
Bid Bond
A guarantee to the prospective employer that the tenderer is making a responsible bid and will be bound if the bid is accepted.
Performance Bond
A guarantee protecting the employer against contractual default. In the event of default of our client regarding his contractual obligations, Zurich Versicherung guarantees to bear the residual costs in order to fulfil the contract up to the bond limit.
Advance Payment Bond
A guarantee given where monies are advanced on account of goods or services.
Retention/Maintenance Bond
A guarantee issued in substitution for retention monies, which would otherwise be withheld.
Regulation Bonds
Bonds required as a condition for obtaining a statutory licence or approval from regulatory bodies.
Travel Bonds
Bonds required to insure clients from Travel Companies against the loss of advance payments in the event of default of the travel company.
Customs Bonds
Bonds required to allow appeal procedure or injunction procedure to start.
Tax Bonds
Ensure the proper declaration and timely payment of taxes.
Court Bonds
Secure the payment of fiduciarie’s duties and compliance with a court order.
