Products
Specialized in corporate surety bonds
With the purpose of fulfilling the financing and development needs of your company, ONIX ASIGURĂRI offers you an advantageous guarantee instrument, which helps you winning and performing the contracts obtained and supports your financial independence.
BID BONDS
Represents the guarantee instrument for the bidder to be able to take part in the procedure of a public tender contract assigning for which it is requested to submit a letter of guarantee issued by bank or a bond underwritten by an insurance company under the provisions of the law.
PERFORMANCE BONDS
Represents the guarantee instrument which provides the opportunity to perform a contract following the public acquisition tender and for which it is mandatory to submit a contract performance bond, with the purpose of protecting the beneficiary from the contractor’s risk of non-adequate performance or failure to fulfil the contract obligations.
MAINTENANCE BONDS
Represents the guarantee instrument by which the beneficiary is assured that the contractor will remedy any defects occurred after the contract’s final reception or will fulfill its contractual obligations which are related to a certain notification of defects period.
ADVANCE PAYMENT BONDS
Represents the guarantee instrument by which the beneficiary, who paid a down payment as per the contract, is assured with regard to contractor’s contract obligations to timely reimburse the advance payment within the settled conditions.
MONEY RETENTION BONDS
Represents the guarantee instrument by which the contractor is cashing the amounts retained by the beneficiary from the invoices issued during the performance of the contract.
ADVANTAGES OF USING A SURETY BOND
- An alternative to the letter of guarantee issued by bank
- Effective management of company’s financial resources and cash flow
- Reduction of costs generated by the policy underwriting
- Rapidity in assessing the financial analysis of the applicant company and in underwriting the surety bond
- Flexibility in negotiating the costs incurred by the issuance of the counter-guarantees, depending on the creditworthiness of the applicant company or/and of its group
- Possibility to use the surety bonds in Romania and in the UE countries in which the insurer is authorized
- Increase in the company’s capacity to take part in a bigger number of public tender procedures in the same time
