1. Bid Bond -  Tender bonds
  2. Advance payment Bond (APB)
    For requesting advance payment from the principal
  3. Performance Bond (PB)  - These bonds are normally issued as a surety for due performance of the contract such as a construction of a property, erection of Plant & machinery, etc.
  4. Custom Bonds (For TRA ) - eg CB 3, CB 6, CB 10,CB 11, CB 12,CB 13
    A customs bond is a guarantee from the surety to the Government that the principal will faithfully abide by all laws and regulations governing the goods under consideration.
    The Bond is a security taken by the client  for the due payment of customs and excise duties together with the proper carrying business in dutiable articles.

INFORMATION REQUIRED FOR ISSUANCE OF COVER/QUOTATION

  1. Completed Bond proposal form.
  2. Detailed company profile, (Along with copies of Articles and Memorandum of Association).
  3. Latest 3 years audited accounts (financials).
  4. Counter guarantee on the proposer’s letterhead signed under seal by the Company Directors/Partners.
  5. Counter guarantees signed by at least two directors/partners in their personal capacities.
  6. Collateral security to the tune of the amount of the bond (depending on the strength of the audited accounts in comparison with the amount of the bond).
  7. For Performance Bonds & Advance Payment Bonds we require a copy of the contract so that we have full details of work involved before we guarantee its performance.
  8. Award letter for Bid bond and Performance bond

CLAIMS PROCEDURES AND DOCUMENTS REQUIRED

  1. Notify the insurer or NMB claims team about the claim as soon as possible.
  2. Copy of ID (NIDA, Driving License or Voters ID)
  3. Explanation on the fault by the client.
  4. Any other information as may be requested by the insurer or NMB claims team.