WHAT IS BONDING?
Your business partners ask you for bonds and guarantees to be certain that you will perform your contractual obligations. Bonding with Euler Hermes gives them the necessary security to start lasting and confident business relations.
Bonding is a contractual triangle relationship where we vouch with our good name towards third parties for your obligation as a contractor. Bonding is also know as "surety".
A principle for bonding is to indemnify a person who has no mutual relationship to the insurance company (external party).
The bond or guarantee secures that the contractor (your company) will fulfil its obligations (or defects liability) under the contract.