The Surety Bond is a branch of insurance that aims to ensure the faithful performance of the principal obligation of full or in part, either through payment or execution.

It is an insurance policy issued by the Insurance Company to cover losses caused by the breach of the obligations assumed through tenders and contracts (whether publicly or privately managed).

The surety is also a consensual, bilateral and onerous contract, the successive execution made effective at the time the borrower signs the application for insurance and the insurer accepts the risk and issues the policy. It is an agreement whereby one party, the insurer undertakes to with a second part, the Insured, the answer for the default of a third party, the Borrower.

Counter- Warranty contract

A document signed by the Insurer and the Policyholder, containing the rules of the Insurance Warranty emissions.

Intervening parties

  • Borrower / Contractor Is the bid, contracted, concessionaire or permitted, is also the debtor of the obligations assumed by it under the main contract.

  • Insured Party / Contractor Is the Public Administration or the Grantor, Beneficiary of the policy, the developer or contractor, lender of the borrower's obligations under the main contract.

  • Insurance Company It is the surety insurance company, under the policy, the obligations of the borrower under the main contract.

Among other kinds of insurance sold by Warranty Fairfax, there are:

  • Insurance Warranty Competition - Bid Bond

    Ensures that the successful bidder to sign the contract under the conditions laid down in Notice.

  • Insurance Performance Bond – Performance Bond

    Guarantees the obligations of the master contract. Examples : build, manufacture, supply or provide services, etc.. Normally it, is recruited by a certain percentage corresponding to the base price of the contract value.

  • Insurance Warranty for Advance Payment
    Guarantees compensation for losses resulting from breach of obligations by the Borrower in respect of advances granted to the contractor on contracts.
  • Warranty Insurance for Retention Payments

    Allows the contractor to release of payments withheld by the contractor as collateral for non-compliance with contractual obligations.

  • Insurance Warranty Perfect Operation

    This insurance Warrantys compensation for losses from equipment provided or performed by the Borrower to the Insured, as provided in the contract dysfunction.

  • Customs Warranty Insurance

    Ensures the IRS, the policy insured, reimbursement of customs duties suspended by a condition for import of goods by special import arrangements as temporary admission, drawback, customs transit and customs valuation.

  • Insurance Warranty for Concessions

    Grantor warrants to the obligations of the Concessionaire contained in the concession contracts

  • Insurance Warranty for Real Estate

    Guarantees compensation of losses arising from the default of the Borrower 's obligations under the construction of buildings or group of buildings of freestanding units sold contracts during execution of the work. Among the types sold are : performing real estate developer / end purchasers / swap

  • Judicial Warranty Insurance

    Guarantees the payment of the corresponding judicial deposits that require the Borrower to perform processing of prosecutions value.

  • Administrative Warranty Insurance

    Aims to certify the veracity of tax credits in administrative proceedings under Federal, State and / or Municipal.

Para maiores informações, consulte os termos e condições contratuais do seguro, bem como o registro do produto da Fairfax Brasil Seguros Corporativos S/A, CNPJ nº 10.793.428/0001-92, junto à Superintendência de Seguros Privados – Susep, por meio do seguinte número de processos Susep nº XXXX (nº dos produtos divulgados). A aceitação do seguro estará sujeita à análise do risco pela Seguradora; o registro deste plano na Susep não implica, por parte da Autarquia, incentivo ou recomendação a sua comercialização; o segurado poderá consultar a situação cadastral de seu corretor de seguros, no site www.susep.gov.br, por meio do número de seu registro na SUSEP, nome completo, CNPJ ou CPF.