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Claim service

The company will indemnify the beneficiary (obligee) for the loss which may be caused by the failure or default of the principal¡¯s obligation as specified in the bond and the amount of loss to be paid by the Company shall not exceed the bond amount. Our claim professionals can focus on meeting your business needs and offer you superior claim service.
 
Claim process
The claims process is to pay for losses. This process is divided into the occurrence of a loss, claim for indemnity, loss survey and payment of loss.

The beneficiary shall immediately request "claim for indemnity" in the event the beneficiary (obligee) requests the performance of the contract and the principal (obligor)continually fails to do so.

The beneficiary (obligee) must submit documentation (evidence) proving that a loss has occurred when they report a claim.


The loss survey is to determine the loss amount subject to the terms and conditions as stated in the issued bond and general conditions.

The surety will pay the loss amount within 10 days following determination of the amount of loss to be paid.

Occurrence of
a Loss
Claim for indemnity
within 2 years
following
occurrence
of a loss
Claim for
Indemnity
Benefieiary
Provides
documentation
(evidence)
of the loss
Loss Survey
Survey a Loss
&
Datermine the
Loss amount
Payment of
Loss
Pay claim within
10days following
datemination
of the amount
of loss to be paid.