In today’s economy, there is a growing demand for contractors and developers to offer guarantees to employers for construction projects. This requirement arises from the need for all parties to minimize their risk exposures before embarking on significant projects.

 

Bank guarantees have been favored as the ideal form of security by institutions. Even though banks cater for the need of issuing guarantees it is not their primary focus and therefore it does not always accommodate the need of the client. The collateral requirements can be strict which can have a negative impact on the companies finances and cashflow for future projects.

 

Guarantees from an insurance institution offers more benefits as it is more cost-effective and efficient. This allows clients the opportunity to issue guarantees to entities to ensure their performance and contractual obligations towards a project. 

 

We believe that insurance should not be seen as one-size fits all products and therefore we have partnered with innovative insurance providers that offer tailored solutions for each clients specific needs.