CONTRACTUAL BOND INSURANCE
we underwrite risks on behalf of HDI Global Specialty SE rated A+ by Standard & Poor's and A+ (stable outlook) by A.M. Best.
WHY CEE SPECIALTY?
- a Czech company licensed and regulated by Czech National Bank
- we underwrite risks on behalf of renowned global insurers on Czech, Slovak and international markets
- we offer local & tailor-made insurance solutions
- experienced team of fully authorized underwriters
- claims handled locally by experts
Types of bonds we offer
- Bid Bond
- Performance Bond
- Maintenance Bond
- Retention Bond
- Advance Payment Bond
Capacity and limits
- max. agregated limit CZK 50 mil. (EUR 2 mil.) per client / group
- max. standard limit for one bond is CZK 5 mil. (EUR 200k)
Bond period
- bid bonds max. 12 months
- other contractual bonds max 36 months in performance period and up to 61 months in maintenance period
Main advantages
- insurance bond is a full-fledged alternative to a bank guarantee - the same form and legal certainty, irrevocability, payment on the first-call and without objection in case of unconditional guarantees
- cost savings:
- unlike bank guarantee, an insurance bond is not a loan, it does NOT reduce the credit line - so you can borrow more money from the bank - and does not enter the insured's accounts as a possible financial liability
- substitute of retained cash or bid security
- the insured pays only the insurance premium, no other fees
- fast process of issuing the letter of guarantee with recognized digital signature
- various options of collaterals for securing potential insurance indemnity incl. option without any collateral!
- we prefer framework agreements with minimum administration for broker and client in case of bid bonds and maintenance bonds