Guarantee Bonds

According to the criteria set by the Public Procurement Agency, in the case of tender participation, SIGMA VIG offers the Guarantee Certificate Tender Bond.

Scope of insurance: Guarantee Certificate Tender Bond for submission to the Contracting Authority in case of announcement of the winner.

Period of insurance: According to the requests of the Public Procurement Agency, up to 150 days from the date of the tender.

Insured Sums: The Public Procurement Agency usually requires this amount to be 2% of the contract value.

Insured Risks: If the Insurer withdraws in the event of the announcement of its winner, the Insurer pays to the Contracting Authority the amount of the security.

Fees: Competitive and variable depending on the financial security the contractor submits.

Advantages: 

• Competitive Support from Serious Reinsurers;
• Speed in performing security procedures;
• Professionalism in risk assessment.