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Bonds

  • Bond With Us!

  • Bids, Performance,
    Advance Payments, Customs
Bonds


Bond With Us

  • Bid Bonds

  • Performance Bonds

  • Advance Payments Bonds

  • Customs Bonds.


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Bonds

A bond is not an insurance policy but a financial product and as such requires assessment of both the bond applicant and financial statements. TRINRE offers the following four types of bonds:

  • Bid Bonds

  • Performance Bonds

  • Advance Payments Bonds

  • Customs Bonds.

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Bonds - Documentation Required for Assessment

The list of documents below are required to make a complete and reasonable assessment of the bond risk:

  1. Completed Application Form (no ticks or blanks are accepted)

  2. Profile of the Applicant (including details of Parent company if a subsidiary)

  3. Financial Statements
    a. Audited Accounts for last three (3) years for an existing company
    b. Projected Accounts for a new company

  4. Reference from any bank or financial institution

  5. Copy of Letter of Award from the Principal

  6. Section of the Contract Wording outlining the type of bond required and related terms and conditions

  7. Latest list of Assets and Liabilities of Contractor

* Please note that other information may be requested.

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Bonds - Requirements from Applicant Upon Approval

  1. Corporate Counter Indemnity from the Insured

  2. Counter Indemnity from the directors, main shareholder or Parent Company
    a. The Indemnity and Counter Indemnity must be stamped and signed by the Insured and Owner

  3. Payment of Premiums

  4. The CAR/EAR Insurance where applicable

  5. The Bond Wording from the Principal if available.

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