Bond is a financial obligation in writing whereby an individual / company is obligated under the contractual agreement to furnish by way of performance bond / guarantee in accordance with the specifications in the contract. Insurance bond is a three-party instrument, whereby one party (the insurance company or bank) guarantees a second party (the principal/beneficiary) financial protection of a third party (the contractor).

Types of bonds commonly issued by insurers are:

• Advance Payment Bond
• Bid / Tender Bond
• Credit Bond
• Custom Bond
• Immigration Bond
• License and Permit Bond
• Maintenance Bond
• Performance Bond
• Rental Bond
• Sub-Contractor Bond
• Supply Bond
• Warranty Bond

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