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The surety policy is an insurance contract through which an insurer (Continental), guarantees compliance of performance of the purchaser, or insured, concerning a contractual obligation or legal disposition, whereby the respective entity becomes obliged to pay the creditor a determined amount (insured amount) for damages caused due to non compliance of the guaranteed obligations.
The operations that we guarantee originate from different works and contracts, i.e., construction, consulting, provision, supply and installation, performance of projects, training courses, concessions, tenders, purchase/sales agreements, and in general a wide spread of contracts and commercial agreements.
Who participates?
Guarantor or purchaser: who contracts the policy and pays the premium. This is the entity which the company evaluates and which must comply with obligations guaranteed by the policy.
Insured or mandatory party: entity to whose order the policy is purchased, which will be indemnified in case of a loss.
Insurer: The Insurance Company that issue the policy, Continental.
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