Bonds Insurance

Cover request process

This policy guarantees that a particular debt issue will be paid if the debt issuer experiences financial difficulties (Guarantees the bondholder of payment in the event bond issuer’s default). Our guarantee cover provides coverage for:

Bid Bond: provides guarantee that the winning bidder will undertake the contract under the terms at which they bid.
Performance Bond: guarantees satisfactory completion of a project by a contractor.
Advance Payment Bond: guarantees that the issuer will refund the advance payments made by the buyer if the seller or contractor fails to meet its contractual obligations
Custom Bond: guarantees that the customs authority will receive tax fees and duties in the event the importer fails to pay.

For insurance cover to be processed, the following information is required: Bid bond: Tender document, Performance Bond: Notification letter, Advance payment bond: Contract and Custom bond: filled proposal form

Under Bonds Insurance, the following are covered

Bid Bond
Performance Bond
Advance Payment Bond
Custom Bond

Bonds Insurance Claim

Claim processing process

Claims can be lodged in all BK branches. You can use the nearest BK branch office to lodge your claim. A claim with all required documentation is settled within 3 working days after the date of receipt of the claim. Complicated cases may take a maximum of seven days. On line services are being developed to facilitate our clients to make claim declarations online

Information Required

For a claim to be processed, the following information is required: Filled declaration form, insurance policy

Any problem, call us on

Bonds Insurance Claim

Claim processing process

Information Required

Make the right decision, ensure your wealth in Good hands

BK Insurance

Head Office

Call Center

Email