Euler Hermes, the Allianz subsidiary and European market leader in bonds and guarantees, unveils a first in Belgium. Starting now, customers can apply for standard bonds online and receive a digitally signed bond in less than two minutes. “Our eBonds allow us to offer unprecedented autonomy, time savings and convenience to our customers,” says Henk Deraedt, Director Specialties and Banking Channel, Bonding at Euler Hermes Belgium.
Many agreements require parties to provide bonds or guarantees to their contract partner or the government. Public tender competitions, where successful bidders have to provide a “performance bond” to the government, are a typical example. Euler Hermes takes care of issuing those bonds. “In the digital age we live in, it’s important for businesses to obtain bonds quickly and without too much paperwork. But when a bond is issued the traditional way, applying for the bond and drawing up the wording can easily take several working days,” explains Deraedt.
“Euler Hermes digital eBonds allow this procedure to be completed much more easily, in less than two minutes. Customers can apply online via our secure website. All they have to do is enter a few details about the beneficiary, the amount and the project. Our system then generates a digital signature automatically and our customer can obtain an electronic document right away.”
“Euler Hermes is aggressively pursuing digitalisation, and eBonds are an excellent example. Our customers can now use My Bonding Portal, a real time online platform for managing bonds and guarantees,” adds Henk Deraedt. Businesses can view a summary of all their current bonds at a glance together with their expiry dates, which substantially simplifies management. The Portal is also the means by which they can now apply for new bonds and have them issued immediately. This gives them not only a considerable time saving, but also greater autonomy, seven days a week and 24 hours a day.
Euler Hermes is the European market leader in surety bonds and guarantees, and the global leader in trade credit insurance. With over 100 years of experience, Euler Hermes provides businesses with financial services that help them grow with confidence at home and abroad. Based in Paris, we are present in over 50 countries and employ over 5.800 people. Euler Hermes is rated AA by Standard & Poor’s.