Any business, regardless of its nature, is interested not only in the safety of physical assets, but also wants to protectits finances, including the balance sheet protection, liquidity and performance guarantees of the counterparties. Such protection is ensured through trade credit insurance or getting surety bonds.

At the conclusion of contracts — trading or, for example, a construction contract — there must be confidence that the business will not suffer losses in trading operations, as well as the contractor will perform the work qualitatively and on time, in accordance with the wishes of the customer. Trading goods or providing of services on credit carry the risk of the counterparty's failure to meet its obligations. We will provide a cover to protect you against the risk of non-payment for delivered goods or rendered services in case of insolvency (bankruptcy) of your counterparty. And surety bonds will ensure execution of works on time and with performance required even in case of contractor default.

Trade credit insurance may be suitable for any business selling goods or services on credit. Also, it’s often used to provide security to banks and other types of lenders for trade or export finance.

Surety bonds are used to secure the fulfilment of the contractual obligations towards a contractual counterparty, and it may be as large constructionor infrastructure project, so local contracts in respect of regional and municipal needs.

We can arrange a credit risk policy, as well as a surety bond protecting your business against uncertainty and risk when trading or being involved into development and other projects.

Trade credit insurance can reduce the bad debt provision significantly, strengthening the balance sheet, and protect your cash-flow by covering losses if a debtor defaults on payment or becomes insolvent. Also, it gives you more opportunities to increase your borrowing capacity with your bank.

More often your trade credit policy provides either whole-turnover insurance, or single/multi-buyer insurance, or excess of loss cover. In any case it can protect against various risks such as, but not limited to:

  • Non-payment by a private counterparty for goods or services delivered (including working capital goods)
  • Non-delivery by a private counterparty for prepaid goods or services
  • Non-payment by a private counterparty under a trade related loan agreement
  • Non-payment by a private counterparty under project milestones
  • Non-payment by a portfolio of private counterparties

Surety bonds are usually required under the terms of a construction or engineering contract, or in accordance with mandatory legal requirements, and can be contract or commercial surety bonds, which both protect businesses should they default on a contract or fail to meet their commercial obligations. A surety bond guarantees that a party (contractor) fulfils its obligation towards another party (principal, beneficiary) according to the underlying contract.

Contract Bonds are the ideal solution for contractors, and. they can help to secure your performance and other contract-related obligations without having to provide tangible or collateral security. This can free up your working capital, enhance your liquidity and allow you to take on new projects.

Such bonds secure you on every project stage:

  • Bid Bonds are submitted with your bid or tender to ensure you’ll enter into a contract if your bid is accepted. They also guarantee a Performance Bond will be supplied
  • Advance Payment Bonds cover your counterparties when they advance you money to pre-purchase equipment or establish a site
  • Performance Bonds provide security for your client against default or non-performance
  • Maintenance Bonds cover your post-completion obligations during the warranty period

With a surety bond, you get the following benefits:

  • Increase your project opportunities nationally and internationally
  • The bond is proof of your financial soundness
  • Your own funds stay available and your credit facilities at the bank remain unburdened. Providing efficient capital performance
  • Alternative to collaterals granted to the bank
  • Ensuring payment to suppliers and subcontractors and continuation of work
  • The beneficiary is assured that the project will be completed

Either a trade credit policy, or a surety bond needed, we do our best to give you a product which is perfectly tailored to your needs.

We are no ordinary insurance and reinsurance broker. Founded over twenty years ago, we are one the region’s oldest independent, privately owned insurance broker. We are completely dedicated to our business and our status as a privately owned broker means that all of our energies are focused on providing a first class service to our clients.

Our insurance broking service offering is based on:

  • Understanding of your risks and needs, strategies and business objectives
  • Specialist market knowledge and local expertise, to ensure that you are in compliance with the local insurance law
  • Responsiveness, 24 hours response time to enquiries and submissions, a one-stop shop
  • Comprehensive service delivery by experienced, motivated personnel and better resource allocation ensuring your ability to interact with the right people at the right level
  • Flexibility and ability to achieve superior outcomes through innovations and technical competence
  • Relationships built on trust, integrity and mutual respect seeking long-term partnership with you
  • The highest standards of moral and ethical behaviour
  • Claims excellence

Our passion for customer service excellence clearly differentiate us from our competitors and wherever possible we look to add value above and beyond expectations.

Not all insurance brokers are the same. Not all understand the need to build effective, long-lasting and mutually rewarding partnerships with their clients.

Partnership is at the heart of our philosophy.

Other ClassesofInsurance

Our broking activities cover a wide range of insurance classes and risk services. As in all areas of our operation we seek to offer flexibility and innovation to ensure that our clients not only save on their costs, but also get the protection they need.

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