Guarantees and Customs Bonds at Edge Risk Partners

Comprehensive Surety for your Business and Projects

At Edge Risk Partners, we assist clients in obtaining a range of surety insurance solutions tailored for their business and projects. These solutions are usually required to cover a contractual obligation, and we can achieve this without restricting cash flow. There are various products available through the insurers to meet you specific needs.

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Why Choose Edge Risk Partners?

Expertise in surety insurance:

Our team has extensive experience in providing tailored surety solutions for various business needs.

Client-centric approach:

We work closely with our clients to ensure they have sufficient guarantee facilities available to them throughout their project lifecycle.

Comprehensive coverage:

We are able to obtain a wide range of surety bonds and guarantees to meet the specific requirements of your projects, both locally and internationally.

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Types of Guarantees and Bonds

Bid Bonds or Letters of Intent

Bid bonds, also known as letters of intent, demonstrate that contractors who bid on projects have access to guarantee facilities that will help them meet the contractual requirements of the project proposal

Performance Guarantees

Performance guarantees offer protection to the employer against the failure of the contractor to complete the project as specified. These guarantees ensure that the contractor will perform their duties as per the contract, safeguarding the employer’s interests in the project.

Maintenance Guarantees/Retention Guarantees

Maintenance guarantees, also known as retention guarantees, cover the costs of correcting defects discovered after the completion of a construction project. These bonds ensure that the contractor will address any faults that are identified within a set period after the completion of the project, thus providing peace of mind to the employer.

Advance Payment Guarantees

Advance payment guarantees are issued when a contractor receives advance payments for work yet to be completed. These guarantees ensure that should the contractor abscond, the employer has the right of recourse through the guarantee.

Customs and Excise (Freight Forwarding)

  • Temporary importation warehouse bond:
    This bond ensures compliance with SARS regulations for goods temporarily imported for specific purposes, such as trade shows or repairs. It guarantees that the goods will be re-exported within a specified timeframe without incurring import duties.
  • Warehouse bonds:
    Warehouse bonds facilitate the storage of imported goods, deferring the payment of customs duties until the goods are released for consumption or re-export. This bond provides businesses with a valuable cash flow advantage.
  • Removal in transit bonds:
    These bonds guarantee the payment of customs duties and taxes for goods transported between different customs areas, ensuring compliance during transit.
  • Inward processing rebates:
    Inward processing rebates allow businesses to import raw materials for processing without paying import duties upfront, promoting industrial development and export-oriented industries.
  • Agents bond:
    An agent’s bond is required for customs clearance and import/export activities, ensuring the agent adheres to all customs regulations and obligations.

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