Specialised Cover

As a policy holder, it is your responsibility to ensure that your assets [possessions] are insured for the right perils and amounts. It is advisable therefore that you look at the terms and conditions of your insurance policy to check the adequacy of the cover. If you have any questions, please feel free to ask to speak to a representative and we'll help you out.

Did you know… Dynamic Insurance Brokers has Offices in four countries? As part of our vision to expand, we have offices in…

Botswana
South Africa
Zambia
And Ghana

SPECIALISED COVER

Contract Bonds
Marine,
Aviation &
Professional Indemnity.

CONTRACT BONDS

A bond is a contract of Guarantee whereas an Insurance policy is normally a contract of Indemnity.

General Remarks

There are three parties to contract of Guarantee;
i) The person to whom the guarantee is given:- (The Employer)
ii) The person who is to perform the subject matter of the guarantee (The contractor)
iii) The Guarantor (Surety)

Suretyship presupposes no losses as surety has the right of recovery from a contractor for any sums paid out as a result of default by the contractor. The “premium” is regarded as a service charge.

Once issued a Bond cannot be cancelled until the subject matter of the Guarantee has been satisfactorily completed.