Bonds provide financial guarantees that help your business meet tender, contractual and regulatory requirements. By giving clients, project owners and other parties assurance that specified obligations will be fulfilled, they help strengthen trust and support your business in pursuing new opportunities.

Types of Bonds Available 

• Advance Payment Bond – Provides security to buyers or project owners for advance payments made under a contract. 
• Bid Bond –
  Gives tendering entities assurance that a successful bidder will honour specified tender obligations.
• Customs Bond –
  Provides financial security for customs duties, taxes and other obligations required by the Tanzania Revenue Authority (TRA). 
• Performance Bond – Gives project owners assurance that contractors will fulfil their contractual obligations. 

Each bond can be obtained separately to meet a specific requirement. Depending on your business needs, you may also obtain different bonds at various stages of the tendering and contract process.

What’s protected

• Your buyers’ advance payments with an Advance Payment Bond

• Your ability to bid competitively with a Bid Bond

• Your compliance with customs regulations with a Customs Bond

• Your performance on awarded contracts with a Performance Bond

Each bond can be taken on its own to meet a specific obligation or bundled to give your business full protection across the tendering and contract cycle.

What’s covered

Key things to know

• Bonds are tied directly to the terms of the underlying contract; if the contract changes, the bond may not apply
• Fraud, intentional misconduct, or collusion by the bonded party are excluded from cover
• Claims must be reported to us immediately
• Standard policy terms and conditions apply