Building your business base in the construction space
What is Surety?
Guarantees offered on behalf of the contractor which would help reduce risk due to project delays, cost overruns & poor contract performance. Surety Bonds or Contract Guarantees are issued in lieu of Bank Guarantees by Corporate for their projects across the globe. A corporate can drastically reduce its dependence on banks for Working Capital limits and instead use its bank limits for other Fund based requirements.
How does it work?
How do we help in bringing solutions to your business?
Through its global coverage of Insurance/Reinsurance world, Prowess advises Surety Bonds for projects in Emerging markets. Our vast network of surety providers as well as our ability to package a security structure which entails bare minimum collateral; also helps us provide highly economical surety guarantee lines for their projects. Where project owners do not accept direct guarantees, a local bank fronted line is arranged.
Range of Guarantees
- Bid / Tender
- Advance Payment