Author: Marta

This type of insurance is recommended for entrepreneurs providing commercial services. It can serve as security for receivables from a single transaction or from the performance of recurring services or deliveries. The Trade Receivables Payment Guarantee primarily confirms the credibility of the buyer, enabling them to use trade credit from the supplier—that is, to receive goods or services before making payment.

Bid Bond Guarantee

This insurance is offered to entrepreneurs who provide their services to other entities through tenders. The Bid Bond Guarantee is one of the legally recognized forms of submitting a bid bond for entities participating in a tender. In short, it exempts the bidder from the obligation to provide the bid bond in cash.

Advance Payment Refund Guarantee

This insurance is recommended for entrepreneurs who offer their services to other entities through tenders. The Advance Payment Refund Guarantee is one of the accepted forms of security required by the client from the contractor. It secures claims arising from the failure to settle or return the advance payment within the timeframe specified in the contract.

Performance Bond Guarantee

This insurance is intended for all contractors and subcontractors required to provide security for the proper performance of contractual obligations. The Performance Bond Guarantee is one (and sometimes the only) accepted form of security for the proper execution of a contract, as required by the client from the contractor. It is designed to secure claims arising from non-performance or improper performance of obligations. Overall, it exempts the contractor from the requirement to provide security in cash. Such a guarantee is issued for a period agreed upon in the contract terms.

Defects Liability Guarantee

This insurance is recommended for entrepreneurs who provide quality guarantees and are therefore liable for defects under warranty. The Defects Liability Guarantee is one of the accepted forms of security for proper contract execution, as required by the client. Its purpose is to secure claims arising from the failure to address or improper rectification of defects and faults that occur after the completion of the contract. This type of guarantee exempts the contractor from the obligation to provide security in cash. It is issued for the period from the signing of the final acceptance protocol until the end of the warranty and liability period.

Performance and Defects Liability Guarantee

This insurance is offered to all entrepreneurs required to provide a guarantee for proper performance and correct defect rectification. The Insurance Guarantee allows businesses to avoid freezing their own financial resources. This guarantee secures the entire investment process, from submitting the tender offer to the end of the warranty and liability period.

Trade Receivables Payment Guarantee

This type of insurance is recommended for entrepreneurs providing commercial services. It can serve as security for receivables from a one-time transaction or from the performance of recurring services or deliveries. The Trade Receivables Payment Guarantee primarily confirms the credibility of the buyer. It thus enables the buyer to use trade credit from the supplier, i.e., receiving goods or services before making payment.

Excise Duty Guarantee

This insurance is offered to domestic entities that, due to their business activities, are required to provide excise duty security.

Customs Duty Payment Guarantee

A customs guarantee is one of the permissible forms of securing customs duties. We recommend it to domestic entities engaged in international trade that, under the provisions of the Community Customs Code and other legal acts, are required to provide financial security for the payment of customs duties and taxes.

Common Transit Procedure Guarantee (CTP Guarantee)

It is intended for carriers, freight forwarders, exporters, and importers. The **Common Transit Procedure Insurance Guarantee** is one of the legally accepted forms of securing customs and tax liabilities with Customs Chambers in cases of non-compliance with payment obligations arising from regulations (Community Customs Code, Convention on a Common Transit Procedure, the VAT Act, and the Excise Duty Act). The guarantee is issued according to templates required by Customs Chambers. The Common Transit Procedure Convention allows for two types of guarantees: a general guarantee and a single guarantee.

Trade Credit Insurance

This insurance is designed for entrepreneurs who conduct sales on deferred payment terms—commonly known as trade credit. The subject of the insurance is undisputed receivables arising from the sale of goods or services, provided that the delivery or shipment of goods, or the performance of the service, occurred during the insurance period, and the related invoices were issued within the maximum credit period.

Trade credit insurance enables a company to offer extended payment terms, thereby enhancing its competitiveness. The insured also benefits from the insurer’s support in credit risk assessment, debt collection, and enforcement of receivables. Trade credit insurance is a crucial element of risk management for businesses and serves as a tool for maintaining financial discipline. It helps protect against losses resulting from the insolvency of customers purchasing goods or services.