SURETYSHIP

Suretyship is a very specialized line of insurance that is created whenever one party guarantees performance of an obligation by another party. Rama offers a wide range of Surety Bonds.

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Contra Bank Guarantee

An insurance product that comes in the form of Guarantee Proof from Surety on Bank Guarantees that have been issued by Commercial Banks for the interests of the Principal in accordance with the requirements given by the project owner (Obligee). In this case, Surety has an agreement to pay compensation to the bank for claims submitted by the project owner (Obligee). Types of Bank Guarantee Cons provided by Rama Insurance include:

  • Bid Bond
  • Performance Bond
  • Advance Payment Bond
  • Maintenance Bond
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