Surety Bond

Surety Bond is a written agreement as an additional agreement between the Surety Company and the Principal to cover the interests of the Obligee. If the Principal fails to execute its obligations under the applicable contract, Surety will provide compensation to the Obligee at a maximum cover value.

MPM Insurance offers 4 types of Surety Bond:

• Bid Bond - Cover the Obligee that the Principal, who wins the tender, will be able to sign a work contract with the Obligee.

• Performance Bond - Cover the Obligee that the Principal will be able to perform and complete the work provided by the Obligee in accordance with the agreed work contract.

• Advance Payment Bond - Cover the Obligee that the Principal will be able to return the advance payment received from the Obligee.

• Maintenance Bond - Cover the Obligee that the Principal will be able to perform maintenance for the work during the period specified in the work contract.

Get the quotation of Surety Bond Insurance by filling out the application form on the right.