Bonds and Credit insurance

Bond insurance

It represents a financial solution for companies wishing to participate in public procurement procedures or companies that have to form contractual guarantees.

This form of insurance is the best method of closing a guarantee, because unlike bank guarantee letters, collateral does not involve blocking the funds of your company during the auction or the contract concluded with the purchaser.

To whom are these types of insurance addressed to?

This insurance class addresses legal entities wishing to participate in an auction in order to obtain a public acquisition contract or for companies that have won a public acquisition contract. Insurance contracts and contracts concluded between 2 private companies may be taken under certain conditions, for example: subcontracts, services, supply, etc.

Types of Bond Insurances:

• Bid bond

• Performance bond
• Maintenance bond
• Retention bonds
• Advance payment bonds
• Payment bond

Advantages of completing a bond insurance:

1. Evaluating and granting limits is not done solely on the basis of your company’s financial situation. To conclude this type of policy, we take into account a cumulus of factors, namely: the experience / history of your company in completing similar projects, the number of employees, etc .;

2. The creation of counter-guarantees in favor of the Insurer in 99% of cases does not involve the blocking of amounts of money, credit limits or mortgages in favor of the insurer. Thus, your company can use its resources in project development;

3. Does not affect the financial situation of your company because the issue of these insurance policies does not imply their registration as credit in the Banking Risk Center (CRB);

4. In the event of a claim for damages, your company will be assisted in solving any claim for damages from the Buyer amicably;

5. The establishment of guarantees in the form of insurance is accepted by all Beneficiaries / Purchasers, according to the legislation in force.

Benefits of securing a Bond Insurance through Asigest Broker:

• Negotiate directly with the Insurer to get the best deals for your company for Warranties / CAR / Accidents, etc.

• We monitor your entire company portfolio and notify you of expiration dates

• In the event of damage, we will be assisted in dealing with damages files

Commercial credit insurance

Commercial credit insurances will protect your business against the risk of non-payment of commercial debt. Ensure that all your bills will be collected and allow you to manage with confidence the commercial and political trade risks.

While commercial credit insurance compensates for losses caused by non-payment of commercial debt, the ultimate goal is to help your company avoid catastrophic losses and improve profitability. The key is to have the most valuable information Cabout companies, business sectors and economic trends to avoid and reduce losses.

To whom does the commercial credit insurance cover and what risks it covers:

• It addresses customers who deliver commodities and consumer goods (raw materials, fuel, food, etc.) or who provide services on a pay-as-you-go basis;

• It covers the risk of non-payment of debts related to delivered goods / services, from debtors (“debtors”) from Romania or abroad;

• It covers the risks of non-payment of debts due to bankruptcy / insolvency of debtors.

What advantages exist for the client:

• Sure business growth

Securing commercial credits offers you the confidence to expand your sales to new markets and customers. It also allows you to sell on time, without guarantees, which can provide you with a major competitive advantage, especially for export.

• Detailed customer knowledge

Our knowledge will help you choose the right customers and make the best decisions for your business. We tell you everything you need to know about your clients, potential customers and markets, for the safe development of your business. Our database is a valuable asset for managing receivables

• Optimizing risk management

With a commercial credit insurance policy, you have control and you can protect yourself much better against financial losses. You can minimize the risk when you are looking for new customers and markets. Securing commercial credits ensures that your bills will be paid even if your customers do not pay, which is essential to protecting your cash flow.

• Better lending or financing opportunities

Your business may have better borrowing conditions with the guarantee provided by the insurance policy. In some cases, the bank or creditor may request commercial credit insurance to qualify for the loan.