Bonds
Continue exploring our Insurance solutions:
Our aim is to give our clients a competative advantage and insurance solutions during the bidding, execution and post- delivery phases of major construction, engineering and infrastructure projects. Barents Insurance requires every risk to be collateralized with counter guatantees tailored to the project's requirements. Barents Insurance can provide insurance solutions for both public and private contracts. Our teams within Barents group of companies have decades of experience betweem them with members having worked in all of the principal surety bonds markts across the globe.
Barents Insurance provides added value by mitigating the risk with Inspection Reports, undertaken by a third party not related to the Beneficiary or the Contractor, on the ongoing performance of major projects. This gives an additional perspective of the risk and can help foresee possible faults or potential amendments required by the Beneficiary of the surety bond in order
Our core Surety Bonds product offering, with significant capacity available, includes, but is not limited to:
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Bid Bonds: Ensure that a contractor submits a serious bid and will execute a contract if awarded.
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Performance Bonds: Guarantee that a contractor completes a project as per agreed standards.
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Advance Payment Bonds: used in construction, engineering, and large-scale projects to protect a project owner (e.g., a government or private entity) when they provide an upfront payment to a contractor or service provider.
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Maintenance Bonds: Cover repairs or maintenance post-project completion.
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Payment Bonds: Protect suppliers and subcontractors by ensuring they get paid.
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Custom Bonds: Safeguarding the Customs Debts by the Insurer.
