Surety Bonds
In collaboration with insurance companies, we offer competitive terms for the issuance of surety bonds, with flexible and efficient processes.
Read More THE EXPERTS IN GUARANTEE INSURANCE
- Surety Bonds
Finassurance specializes in surety bonds and provides innovative and effective solutions for businesses, in the Greek market and abroad.
Guarantee Insurance
- Issuance of Surety Bonds from an Insurance Company
We strengthen the growth and resilience of businesses in the highly competitive and rapidly changing business environment.
MANAGEMENT OF INSURANCE RISKS
Finassurance offers comprehensive turnkey solutions for risk underwriting/portfolio risk management from surety insurance, to insurance companies.
ΠΟΙΟΙ ΕΜΑΣΤΕ
PRODUCTS / SERVICES
Management οf Insurance Risks
Finassurance offers comprehensive turnkey solutions for risk underwriting/portfolio risk management in surety insurance, to insurance companies.
Read MoreGUARANTEE INSURANCE - SURETY BONDS
What is a Surety Bond
Types of Surety Bonds
Why should I choose issuance by an Insurance Company?
What is a Surety Bond
The purpose of the Surety Bond / Letter of Guarantee is to ensure the fulfillment of obligations arising for a business from participating in a tender, signing a contract, or generally undertaking an obligation towards the beneficiary, in case the business is unable to meet its commitments.
The ability to issue Surety Bonds / Letters of Guarantee is a crucial factor for the growth of a business, providing access to tenders, projects/services/supplies in the public and private sectors.
Surety Bonds / Letters of Guarantee are documents, usually for a specified duration, issued by a financial institution (Bank or Insurance Company) that act as a guarantee for the fulfillment, by the Principal / Applicant, of financial or other obligations to a Beneficiary, arising from legal provisions or legitimate transactions.
Surety Bonds / Letters of Guarantee essentially constitute contracts (legal acts) in which the financial institution undertakes the obligation to the Beneficiary that, in the event the debtor (for whom the guarantee is provided) fails to fulfill their obligation, the Guarantor will fulfill it, and will do so for the specified amount stated precisely in the body of the Letter of Guarantee.
Types of Surety Bonds
The purpose of the Surety Bond / Letter of Guarantee is to ensure the fulfillment of obligations arising for a business from participating in a tender, signing a contract, or generally undertaking an obligation towards the beneficiary, in case the business is unable to meet its commitments.
The ability to issue Surety Bonds / Letters of Guarantee is a crucial factor for the development of a business, providing access to tenders, projects/services/supplies in the public and private sectors.
The types of Surety Bonds are categorized based on the type of guarantee provided. The main forms of L/G are as follows:
Why should I choose issuance by an Insurance Company?
The purpose of the Surety Bond / Letter of Guarantee is to ensure the fulfillment of obligations arising for a business from participating in a tender, signing a contract, or generally undertaking an obligation towards the beneficiary, in case the business is unable to meet its commitments.
The ability to issue Surety Bonds / Letters of Guarantee is a crucial factor for the development of a business, providing access to tenders, projects/services/supplies in the public and private sectors.
The issuance of Surety Bonds by partner Insurance Companies, creates a competitive advantage and ensures:
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