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Bonds & Guarantees
In Africa, Bonds are an integral part of Project Insurance – we cannot imagine an Engineering Contractors All Risks insurance / Erection All Risks without an accompanying Performance Guarantee and an Advance Payment Bond which later graduate to become Maintenance Bonds. Of course, Bid Bonds are resorted to, in order to ensure that Contractors will not run away from projects after giving a good quote, and Retention Bonds to ensure that after-sales service continues unabated.
|Bonds & Guarantees||USD 5 million|