Performance Bond Insurance

It is wise and prudent to take care of any cases when a partner of yours fails to fulfil their obligations under a business agreement. If, upon the signing of the business agreement, your cooperation partner also requires you to submit a guarantee on fulfilment of mutual obligations, we offer the Performance Bond Insurance. We will assess the needs of each client on an individual basis and offer better insurance terms and conditions.

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Types of Performance Bond Insurance we offer

The Performance Bond Insurance covers the liabilities under the provisions of the contract or the tender documents. The types of bonds are the following:

  • Tender bond
    The risk is a potential event when:
    1. the Policyholder, through its own fault, recalls or changes its bid while the bid security is valid;
    2. the Policyholder who wins the tender fails, through its own fault, to submit to the Insured the construction contract security according to the contract provisions;
    3. the Policyholder who wins the tender fails, through its own fault, to sign the construction contract within the term specified by the Insured.
  • Construction Performance bond
    The performance bond risk is a potential event, when the policyholder fails, through its own fault, to complete all construction works specified in the Construction Contract within the term specified in the Construction Contract.
  • Advance Payment Bond
    The advance payment bond risk is a potential event when, upon receipt of the advance payment from the Insured, the Policyholder fails, through its own fault, to perform the works defined in the Construction Contract in the amount of the advance payment received within the term specified in the Construction Contract.
  • Maintenance bond
    The maintenance bond risk is a potential event when, during the maintenance period specified in the construction contract, the policyholder fails to perform maintenance and service works stated in the Construction Contract or to eliminate discovered construction defects.

Our advantages and why to opt for BTA?

Our advantages:

  • we have many years of experience in the insurance of construction bonds;
  • we offer individual approach for every customer;
  • we offer discounts on the insurance premiums for the loyal BTA cooperation partners.

 

 

Policy purchase options

The Performance Bond Insurance Policy can be purchased using one of the below options:

  • if you fill in the application form available on BTA website, an expert of BTA’s will contact you to find out the required details and prepare the insurance proposal, and send it to your e-mail address;
  • by calling BTA Customer Service Support at 26 12 12 12.
  • you may visit a BTA Customer Service Centre in person;
  • you may contact a BTA agent, insurance broker.

Where can I find more information?

If you wish to receive additional information about the Performance Bond Insurance or its purchase, please contact BTA Customer Service Support by calling 26 12 12 12 or using any other means of communication you find most convenient for you. For other communication options, please click “Contacts”.