Surety Bond Insurance
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Surety Bond Insurance
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.
4 types of Surety Bond:
1. Bid Bond
Cover the Obligee that the Principal, who wins the tender, will be able to sign a work contract with the Obligee.
2. 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.
3. Advance Payment Bond
Cover the Obligee that the Principal will be able to return the advance payment received from the Obligee.
4. 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.
Service Features and Additional Benefits
Surety Bond Insurance Features MPMInsurance
MPMInsurance offers surety bond insurance with various advantages.
Easy Claim Assistance
An easy and fast claims process is our responsibility to you, the policyholders of MPM Insurance.
Free Consultation
As our commitment to serving you, our customer care service is always ready to answer various questions and fulfill your needs.
