Businesses are typically required to put up a cash deposit or banker’s guarantee as part of a contractual requirement.
Such businesses include landlords leasing/renting business premises, organizations to whom fees, levies and taxes are to be paid and those undertaking projects for construction, renovation, erection of plants and machinery, supply goods or services or materials, etc.
Banks’ guarantees often impose full collateral requirements on top of existing charges. That is why you should opt for our Performance Bonds insurance cover as it functions as practical and affordable coverage for your contracts and projects.
Subject to policy terms, conditions and exclusions.