Plate Glass Insurance

Coverage for accidental breakage of plate glass and neon signs on your premises.

Electronic Equipment Insurance

Insurance coverage for electronic plant and equipment arranged on three tiers, namely for physical damage to such plant and equipment, any related external data media, and increased cost of working following unforeseen and sudden physical loss or damage.

Performance and Tender Bonds

A performance bond is required normally when a contractor or supplier has won or been awarded a contract to build a project, sell goods or provide a service. Within the conditions of the main contract it will be stipulated that the contractor or supplier will have to provide a performance bond in the favour of the project owner or principal.

Tender bonds are used in situations where the bidders are required to submit tender proposals to win the contracts. Most large tenders will require the tender proposal to be accompanied with a bond for at least 5% of the contract value. This bond is a guarantee and remains in force for a period determined by the tender documents (60 to 120 days is the norm). The purpose of this bond is to cover the principal for any problems they may encounter during the tender period (e.g. if the bidders declares they had incorrectly valued the bid or the period meaning that original terms submitted cannot be met).