A surety bond supports and protects your contractual obligations towards a customer, supplier or partner. It is a contractual triangle relationship between you, the surety bond company (Allianz Trade) and the third party requiring the bond, in which we financially guarantee to your party that you will abide by the terms established by the bond.
Bond: Guarantee pledged by Allianz Trade to protect your contract counterpart against a performance failure risk from your company.
Beneficiary : The counterpart who will be indemnified by Allianz Trade in case of justified performance default of Surety contractor (our client).
Requestor: Allianz Trade Surety client or the contractor.
Quotation: Requestor makes a quotation request before activating or rejecting the guarantee.