A bid bond is a financial guarantee provided by a supplier to confirm their commitment to a submitted offer. It protects the contracting authority from losses if the bidder withdraws their offer or fails to enter into the contract.

A performance bond is a guarantee issued by an insurance company to ensure that a contractor or supplier fulfills their contractual obligations for the delivery of goods or services.

This type of guarantee is commonly used in public procurement as a means of securing proper contract performance.

Construction and installation bonds are financial guarantees issued by an insurance company and provided by a contractor (or subcontractor) to assure the client that all contractual obligations under a construction or installation agreement will be properly fulfilled.

These guarantees cover compliance with contract terms and deadlines, adherence to quality standards, and warranty obligations.

They are especially important in public procurement and large-scale commercial projects.

Customs guarantee insurance is a specialized financial security instrument designed for companies engaged in international trade or transit operations where customs compliance must be guaranteed.

This coverage allows businesses to benefit from customs warehousing, import, export, or transit procedures without providing an actual cash deposit, thereby improving liquidity management.

The insurance covers customs duties and taxes owed if the company fails to fulfill its obligations, making it essential for customs warehouse operators and freight forwarders involved in cross-border transport.