Performance Bond

Performance Bond is a guarantee given in favour of the principal on behalf of the contractor confirming that the contractor will execute the contract within the terms of the contract and the bond agrees to indemnify the principal in the event of non-performance and/or partial performance by the contractor.

However, the liability of the guarantor, is reduced by the extent of the performance of the contractor.

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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