Contract bond insurance

Insurance of contractual commitments (e.g. bank guarantee) vis-à-vis the ordering/purchasing party.

Insurable risks:

• Fair calling of guarantee following a Swiss exporter's failure to fulfil obligations due to foreign political circumstances or force majeure.
• Fair calling of guarantee following inability to fulfil contractual obligations due to embargos imposed by Switzerland.
• Unfair calling of guarantee if losses are not reimbursed within 3 months of claiming and receiving the guarantee payment.

The insured percentage for contract bond insurances is standardized to a maximum of 95 percent.