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Surety Insurance:
Strengthen Trust, Minimize Risks

Your Bastion for Contractual Security and Financial Flexibility

In an economy that demands both flexibility and security, Surety Insurance offers an indispensable solution for businesses aiming to secure their obligations while maintaining financial agility. This type of insurance is a key element for companies looking to demonstrate their credibility and reliability to business partners without compromising their liquidity.

Surety Insurance presents an efficient alternative to bank guarantees by providing the necessary security without straining the working capital. It enables businesses to showcase their creditworthiness while keeping valuable financial resources available for other business operations.

At Breffka & Hehnke, we understand how crucial the right coverage is for the success and growth of your business. Our expertise in Surety Insurance allows us to offer customized solutions specifically tailored to the needs and challenges of your business.

Discover how we can help you achieve your business goals by securing your contractual obligations while preserving your financial agility.

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What is Surety Insurance?

Surety Insurance is a tool in the business world, particularly in the realm of large projects and contractual agreements, where it's often necessary to provide security in the form of guarantees. These securities are designed to minimize the risk for the contractual partner and guarantee the fulfillment of contractual obligations. However, providing such securities can be a challenge for businesses, as it often involves a significant tie-up of liquidity.

This is where Surety Insurance comes into play. It's a type of guarantee insurance that allows businesses to provide the necessary guarantees without tying up their liquidity. Instead of depositing cash security or applying for a bank guarantee, companies can opt for Surety Insurance. In this arrangement, the insurance company takes on the role of the guarantor and provides the required security in the form of a surety bond.

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Typical Services

  • Protection Against Default on Receivables: Safeguards against the financial loss incurred when customers are unable to pay their invoices.
  • Liquidity Preservation: Helps businesses maintain their liquidity by minimizing the risk of unpaid receivables.
  • Creditworthiness Evaluation of Customers: Provides access to professional credit checks to reduce the risk of doing business with financially unstable customers.
  • Claims Settlement: In the event of a receivable default, the insurance ensures quick and straightforward claims settlement.
  • Market Expansion: Enables businesses to expand into new markets with greater security by covering the credit risk associated with new and existing customer contacts.

FAQs on Surety Insurance