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