OVERVIEW
Zimbabwe Insurance Brokers offers comprehensive construction insurance solutions designed to protect your project from unforeseen risks. Our policies provide coverage for various aspects of the construction process, ensuring financial security and peace of mind
Construction Bond
This bond is an undertaking whereby the guarantor agrees to indemnify the beneficiary, to a designated amount, against loss or damage sustained by the beneficiary through the failure of the principal to perform a building contract or execute some other construction work.
Retention Bond
This bond enables amounts of money to be released to the contractor, at the same time guaranteeing the employer that in the event of default by the contractor, such amounts of money will be paid back to the employer.
Maintenance Bond
This bond safeguards that the Contractor remedies any deficiencies that may arise after completing the structure of the building.
Performance Bond
A performance bond obliges the guarantor to ensure performance of the contract between the beneficiary and the principal either by arranging to complete the work withing agreed timelines or by paying money to the beneficiary.
Advance Payment Bond
An advance payment bond guarantees the principal in respect of funds they advance to the contractor to finance mobilisation and performance of the work according to the terms of the contract
Bid Bond
This bond is an obligation to pay a sum as actual damages in the event that either the Contractor fails to enter the contract in accordance with its bid specifications or fails to provide the necessary performance bonds as required by the Principal.