In finance, a performance bond refers to a surety credit, which is a guarantee that contractual parties can actually fulfill their contractual obligations. As in one’s personal life, contracts need to be adhered to just like in business, because to reneg on a contract can quickly lead to large crises for a company. Therefore, to guarantee compliance is even more important with contracts where it is foreseeable that the obligations of both contractual parties will only be satisfied after the contract is completed. In trade credit management, we consider the core of our service competency to be in the area of performance bonds, guarantee deficiency bonds, advance payment bonds, along with other guarantees, such as tender guarantees, construction worker backup guarantees, and claim for defects guarantees.
We excel in the area of performance bonds because of our more than 25 years of experience in the industry. Also, in relation to your credit managment and communications with bond insurers, credit insurers and credit agencies we will happily advise you! We are your trustworthy contact person for all contractual issues surrounding performance bonds which your business has. The service that we offer includes that we stand by your business’s side throughout the life of the performance bond. Thereby, we support or can assume your sureties management and, if you wish, will supplement it with alternative guarantees, such as warranties, advance payment bonds and others. We will also gladly organize your guarantees yearly to ensure that they remain market-conform.
As your bond insurance broker we will strive to create a long-term and trustworthy collaboration with you and your business. For further facts and FAQs about bond insurance read more here
For quick decision-takers, check here for prices and insurance amounts, and to take out a policy online. When taking out a policy online we, as your bond insurance broker, will remain continously available to you as advisor and contact partner as long as the scope of the bond exists.
How we operate:
First, we will analyse your problem area through a personal conversation and will then optimize the status quo with your current partners. With that, points such as terms, scopes, tranches and security deposits are important for us. A lot of sureties by the insurers are possible without securities, even if the credit rating is not the best.
Additionally, we will comprehensively analyse your needs regarding the credit management process of your business and, together with you, will optimize it.
What sets us apart from the rest:
With Dreilich Finance you will always have ONE experienced counterpart by your side in all that matters. We are the perfect partner to guide, optimize and placement of security guarantees.
Learn more about our consulting services here.
We are your trustworthy broker for performance security
A performance bond helps to secure you once the execution phase of the project has begun, so that you can continue worry-free into the performance phase. Especially in the building industry, the security factor is an existential matter, that no matter if the employer is a private or public business, a security deposit will be deemed necessary. Nowadays, most employers try to keep their risk low and look into performance bonds before they award a contract. We, as trade credit insurance brokers, focused on performance bonds, will help you make the right decisions so that you save money, increase your payment reserves, and strengthen your competitive advantage. Get in touch with us and let us guide you.
For our clients we are the doorway to the entire market, because we work together with many insurers.