Performance Bonds and Guarantees
The underwriting of almost any risk activity may be possible via a range of innovative insurance instruments, for example:
- Lease Commitment Gap Cover: covers any shortfall in leasing required by a financier at project completion
- Performance Guarantee Bonds: can be used to underwrite a builder’s performance in a project
- Financial Guarantee: similar to a traditional Bank Guarantee
- Purchaser’s Settlement Default: the performance of a purchaser in its contractual obligation to settle
- Contract Bonds: similar to Performance Guarantee, is underwrites a party’s performance according to the terms of a contract.