Bonds & Guarantees
Zimnat General Insurance is able to offer competitive niche insurance products to the business market to help reduce risk whilst keeping the wheels of trade turning. Our team of trade insurance specialists can help guide you on which product is most appropriate for your business. We offer many different types of bonds, guarantees and trade credit insurance which are listed below and detailed in our brochure that can be downloaded here.
These bonds are mostly offered to construction companies when they undertake construction and infrastructural development works. Performance and Advance Payment Bond may also be demanded by institutional purchasers after engaging specialised suppliers.
- Bid/Tender Bond
- Performance Bond
- Retention/Maintenance Bond
- Advance Payment Bond
- Private Railway Siding Bond
These bonds are required by customs and revenue collection authority (ZIMRA) from all entities dealing with the authority on a commercial basis.
- Customs Clearing Agent Bond
- Warehouse Bond
- Removal and Transit Bond
- Application for Temporary Importation Privileges (ATIP) Bond
- Commercial Vehicle Guarantee (CVG) / Temporary Importation Bond
- Excise Manufacturers Bond
- Spirit Rebate Bond
- Inward Processing Rebate Bond
- Electrical Manufactures Bond
- Clothing Manufacturers Bond
Court appointed estate executors are always requested to deposit a surety security bond with the Master of High Court as a way of ensuring that a fall-back position is available to the estate beneficiaries in instances where the executors mismanage the estates under their administration.
- Judicial Management Bond (Provisional/Final)
- Liquidation Bond (Provisional/Final)
- Deceased Estate Executors Bond
These are bonds and guarantees requested by either suppliers of goods and commodities when they extend deferred payment terms to traders under a trade-related contract or purchasers who advance payments to suppliers under a supply contract. They guarantee the successful execution of the underlying trade contracts by the traders or suppliers respectively. These guarantees normally take the form:
- Performance Bond
- Advance payment Bonds