Construction business brings many opportunities but like every other business, it also has some risks and challenges which could be breach of contract, non-performance of a contractor, non-completion of a project for any reason, court judgment against the contractor, insolvency of the contractor etc. To support the engineering and construction business, EFU General is providing guarantor and suretyship services to the project owners by offering the following insurance guarantees.
At the time of tender submission, a guarantee, either from the bank or the insurance company, is required by the project owner from the contractor so Bid / Tender bond is issued to meet this requirement...
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Performance Bond is required by the project owner from the lowest bidder to whom the contract is awarded by the project owner. The purpose of this bond is to guarantee...
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Mobilization Advance bond is required by the project owner to ensure that the funds which have been advanced to the contractor will be properly utilized for the project work only...
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A certain percentage of the running bill is deducted each and every time the bill is presented to the project owner by the contractor...
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The description mentioned about each insurance on this website is for our client's and customer's information and knowledge only. The benefits offered by these insurances as described herein will be completely dependent on the policy terms, conditions, limitations and exclusions and therefore the information provided through our website should not be misinterpreted.
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