Korsa

Services | Insurance | Finance | Warranty

With the rapid pace of the economy grows the emergence of new companies. Thus, the risk when hiring or perform a service has become even greater than in the past.

The surety bond is a contract in order to cover losses arising from lack of fulfillment of obligations assumed by the policy (contract) against a creditor or payee (contractor), who becomes the true guarantee of the insured.

The surety bond is on an instrument designed to indemnify the insured up to the limit of the amount insured if the borrower does not comply with the agreement between them.

The most typical Warranties are:

• Competition (bid bond);

• Performer (performance bond);

• Perfect working order (maintenance bond);

• Advance payment (advance payment bond);

• Withholding of payment (payment bond retention);

• Customs;

• Real Estate.