Gateway Park, Block D, Mombasa Road,
Nairobi
Bonds
A bond provided by Cannon General Insurance offers assurance and financial security in cases where contractual obligations are at stake. It acts as a guarantee by the insurer (guarantor) to compensate a third party (beneficiary) for losses incurred due to the insured party’s failure to fulfill specific obligations outlined in the contract.
Scope of Coverage
Cannon General Insurance offers several types of bonds tailored to different needs
Performance Bonds
Purpose
Ensures the contractor’s financial capability to complete work as per agreed terms.
Coverage
Guarantees completion of contracted work and adherence to specifications.
Bid/Tender Bonds
Purpose
Provides assurance to tendering authorities that a successful bidder will accept an offer and proceed with the contract.
Coverage
Covers costs incurred if the successful bidder withdraws from the tender.
Immigration/Security Bonds
Purpose
Provides assurance to tendering authorities that a successful bidder will accept an offer and proceed with the contract.
Coverage
Covers costs incurred if the successful bidder withdraws from the tender.
Customs/Imports Bonds
Customs Bonds
Our team of experts is ready to assist you in understanding how our bond solutions can safeguard your interests and ensure compliance with contractual obligations.
Import Bonds
Covers duty payment for goods imported into the country, preventing smuggling and ensuring compliance with customs regulations.
Cover Benefits
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Financial Security
Provides a financial guarantee to the beneficiary against non-performance or under-performance by the insured
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Risk Mitigation
Mitigates risks associated with contractual obligations, ensuring parties involved are protected against financial losses
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Accessories Coverage
Protection for accessories and attachments used with the insured vehicles
Our team of experts is ready to assist you in understanding how our bond solutions can safeguard your interests and ensure compliance with contractual obligations.
Customer Downloads
Bonds Proposal Form
Need Help Choosing the
Right Cover?
Our insurance experts are ready to guide you through your options and help you find the protection that fits your needs.