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Surety Bonds

Barents Insurance Surety Bonds Offering

Our aim is to give our clients a competitive advantage and insurance solutions during the bidding, execution and post-delivery phases of major construction, engineering and infrastructure projects. Barents Insurance requires every risk to be collateralized with counter guarantees tailored to the project’s requirements. Barents Insurance can provide insurance solutions for both public and private contracts. Our teams within Barents group of companies have decades of experience between them with members having worked in all of the principal surety bonds markets across the globe.

Barents Insurance provides added value by mitigating the risk with Inspection Reports, undertaken by a third party not related to the Beneficiary or the Contractor, on the ongoing performance of major projects. This gives an additional perspective of the risk and can help foresee possible faults or potential amendments required by the Beneficiary of the surety bond in order to keep the performance of the project duly guaranteed.

Our core Surety Bonds product offering, with significant capacity available, includes, but is not limited to:

  • Bid bond: Ensure that a contractor submits a serious bid and will execute a contract if awarded.

  • Performance bond: Guarantee that a contractor completes a project as per agreed standards.

  • Advance payment bond: used in construction, engineering, and large-scale projects to protect a project owner (e.g., a government or private entity) when they provide an upfront payment to a contractor or service provider.

  • Payment bond: Protect suppliers and subcontractors by ensuring they get paid.

  • Maintenance bond: Cover repairs or maintenance post-project completion.

 

Continue exploring our Bonds solutions:

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