Advanced Payment Bond

This is a guarantee given to a principal on behalf of the contractor for the advance payment or mobilization to the contractor by the principal for the execution of the contract entered into by both parties.

This bond therefore guaranteed that the contractor will utilize the advance payment for the execution of the job and in the event of his failure to do that the bond will indemnify the principal to the extent of the non-execution of the contract.

NB: Bond businesses are strictly on cash and carry bases subject to the fulfillment of certain terms and conditions by the contractor.

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Get To Know Us

Universal Insurance Plc. is a leading name in the Nigerian insurance and financial services industry with over four decades of experience and operations in many states of the Nigerian Federation including the Federal Capital Territory.

Universal Insurance serves commercial, institutional and individual customers through an extensive general insurance network, also providing financial services and risk management services nation-wide. Universal Insurance Plc.'s leadership is as a result of its underwriting skills, innovative insurance solutions, financial strength, superior service and prompt claims settlement.

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