AXA covers your surety Guarantees & bonds for companies

Bond, surety and guarantee for your company

Customers, business partners or government agencies may ask for additional security when awarding contracts. This way, they can be sure that their project is in safe hands from start to finish. In other words, they can also expect the contract to be carried out if the commissioned company files for bankruptcy, for instance. 

With AXA’s bonds and guarantees ("surety insurance") , AXA covers the surety for your projects. This means that AXA guarantees to meet the contractually defined obligations. This improves your trustworthiness and appeal as a service provider or supplier, helping to secure your company lucrative contracts.

How do bonds and guarantees work?

Here’s an example:

• The sample municipality is planning a major project and would like to build a new school. 
• The CHF 6 million contract is awarded to a general contractor. The construction contract anticipates a nine-month construction period. 
• As the construction owner, the municipality would like to ensure that the general contractor carries out the job on time and professionally. 
• AXA therefore issues a performance guarantee for the general contractor to ensure that the job is carried out on time and professionally over the nine-month period.
  
• If the company is unable to meet its contractual obligations as planned (e.g. due to insolvency), AXA steps in and covers the contractually defined obligations.

Guarantee & bond: the offer from AXA 

With AXA, you have the number one on the Swiss insurance market as a partner by your side.  Our good reputation in terms of rating both domestically and in other countries has a positive impact on your company’s trustworthiness.

From performance guarantees to customs bond:  we have numerous guarantees, bonds and sureties in the portfolio and there is definitely one that is the ideal solution for your company. Most of our offers can be easily applied for and processed online. And after completion too, you benefit from our digital service through our myAXA customer portal: less red tape and more time for your business!

The major guarantees

• Performance guarantees  to ensure the contractually agreed benefits. 
  
• Deposit guarantees  to ensure payment by the customer in case performance does not comply with the contract.  
• Work or warranty claims  to ensure that hidden defects are corrected during the guarantee period (also  see contractors' guarantee insurance).
• Bid or tender guarantees  to ensure the obligations of the vendor according to the offer. 

The major bonds:

• Customs bonds  to guarantee the customs fees or to comply with the contract provisions of the customs authorities. 
• Professional bonds  in connection with the issuance of a professional license or official permit (e.g. for notaries, fiduciaries or for gravel extraction). 
• Rental guarantees for businesses to guarantee any landlord claims arising from the lease agreement.