Bond Insurance

The Bond Insurance of Atradius protects you against the risk of bonds, such as bid bonds, advance-payment bonds, performance bonds and retention or maintenance bonds being called unfairly.

Our Bond Insurance covers you against the risk of buyers or clients unfairly calling on bonds that were issued to them. This insurance can either be supplementary to a non-payment risk cover or can be issued as stand-alone. An exception to this is the ‘bid bond’ insurance that can only be issued as stand-alone cover.

A claim will be paid after it has been established by a decision of a court or arbitrator that the guarantee has been called by the beneficiary unfairly. In certain cases Atradius may make an advance payment in anticipation of such a decision, if it is plausible that the bond has not been called in accordance with the purpose for which it was given.

If you have taken out supplementary Bond Insurance in combination with a non-payment risk cover, then the risk of a bond being called is also covered in the event of a covered manufacturing loss.