Whatever your business and surety bond needs, MIR Brokers have the expertise to deliver an effective and flexible service, including comprehensive management of your bonding facilities and experienced professional guidance to fulfill all your surety needs.
Surety Bond is a type of protection that is geared for the business communities which require a financial guarantee letter provided by the Insurance Company (Surety) to support the contract parties in case of default by the obligor against the obligee on any preset terms.
Insurance company will be responsible for penalty payment up to the bond limit; however Insurer still maintain the recourse right for reimbursement from the obligor.
Type of Surety Bond:
- Bid Bond
- Performance Bond
- Advance Payment Bond
- Maintenance Bond
Customs Bond is a financial protection instrument that is provided by Surety (Insurance company) for trading companies, i.e. Importer/Exporter (Principal) in order to conduct its obligation in accordance with the deferred tax facilities as facilitated by the Indonesian Custom / KITE (Kemudahan Impor Tujuan Ekspor) and Directorate General of Custom and Tax.
Should the Principal who has the primary responsibility to re-export the goods failed to perform its obligation then the surety will step in to settle the outstanding financial obligation (import duty) to the custom office. Right of recourse is existed.
Insure the payment of trade receivables of Insured’s, this by helping Insured to select the right customers and venture safely; It also helps the insured into new markets. We offer an insurance policy including Risk Prevention and Debt Collection