{"id":360516,"date":"2023-09-12T22:23:11","date_gmt":"2023-09-12T19:23:11","guid":{"rendered":"https:\/\/akeron.gr\/services\/surety-bonds\/"},"modified":"2025-02-21T16:22:26","modified_gmt":"2025-02-21T14:22:26","slug":"surety-bonds","status":"publish","type":"page","link":"https:\/\/akeron.gr\/en\/services\/surety-bonds\/","title":{"rendered":"Surety Bonds"},"content":{"rendered":"

[et_pb_section fb_built=”1″ custom_padding_last_edited=”on|phone” module_class=”services-hero-section” _builder_version=”4.24.2″ _module_preset=”default” background_image=”https:\/\/akeron.gr\/wp-content\/uploads\/2023\/11\/Eggiiseis-Hero1xB.png” custom_padding=”12vw||12vw||true|false” custom_padding_tablet=”12vw||12vw||true|false” custom_padding_phone=”19vw||19vw||true|false” global_colors_info=”{}”][et_pb_row _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.25.1″ _module_preset=”default” header_font=”Anak Book||||||||” header_font_size=”50px” background_image=”https:\/\/akeron.gr\/wp-content\/uploads\/2023\/08\/logo-line-large.png” background_size=”contain” text_orientation=”center” custom_margin=”||5px||false|false” custom_padding=”40px||40px||true|false” header_font_size_tablet=”40px” header_font_size_phone=”30px” header_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n

Surety Bonds<\/span><\/h1>\n

[\/et_pb_text][et_pb_text disabled_on=”on|on|on” _builder_version=”4.22.2″ _module_preset=”default” text_font=”Anak Medium||||||||” text_font_size=”22px” text_orientation=”center” text_font_size_tablet=”18px” text_font_size_phone=”18px” text_font_size_last_edited=”on|phone” disabled=”on” global_colors_info=”{}”]<\/p>\n

An innovative financial instrument at the service of businesses<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.22.1″ _module_preset=”default” custom_padding=”40px||40px||true|false” global_colors_info=”{}”][et_pb_row column_structure=”1_3,2_3″ use_custom_gutter=”on” gutter_width=”2″ make_equal=”on” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_3″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/akeron.gr\/wp-content\/uploads\/2023\/09\/asfalisi-eggyiseon-img-1.jpg” title_text=”asfalisi-eggyiseon-img-1″ _builder_version=”4.22.1″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][et_pb_column type=”2_3″ _builder_version=”4.21.0″ _module_preset=”default” custom_css_main_element=”margin: auto;” global_colors_info=”{}”][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” header_2_font=”Anak Medium||||||||” header_2_font_size=”22px” custom_margin=”||10px||false|false” hover_enabled=”0″ locked=”off” global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n

What is a Surety Bond<\/span><\/h2>\n

[\/et_pb_text][et_pb_text _builder_version=”4.25.2″ _module_preset=”default” locked=”off” global_colors_info=”{}”]<\/p>\n

Surety Bonds are an innovative financial instrument that allows the issuance of Guarantee Letters through an insurance company. This insurance solution enables businesses to guarantee the fulfillment of various obligations through a third party.<\/p>\n

[\/et_pb_text][et_pb_text _builder_version=”4.25.2″ _module_preset=”default” text_font_size=”18px” background_image=”https:\/\/akeron.gr\/wp-content\/uploads\/2023\/11\/Mple-Mikri-Diagonios.png” background_size=”contain” custom_padding=”32px||12px||false|false” locked=”off” global_colors_info=”{}”]<\/p>\n

Surety Bond is a written unconditional undertaking issued by the Insurer (Guarantor) on behalf of a client (Principal) in favour of a third party (Beneficiary) to pay on first demand under certain events. These events could be the non-performance according to the agreed terms, the non delivery of goods, the failure to fulfil any of a tender\u2019s conditions or otherwise.<\/p>\n

[\/et_pb_text][et_pb_text _builder_version=”4.25.2″ _module_preset=”default” locked=”off” global_colors_info=”{}”]<\/p>\n

Almost any sale, service or agreement can be secured through the issuance of a Surety Bond.<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”Section” _builder_version=”4.22.1″ _module_preset=”default” background_color=”#EDF1F7″ custom_padding=”40px||40px||true|false” global_colors_info=”{}”][et_pb_row column_structure=”3_5,2_5″ make_equal=”on” _builder_version=”4.22.1″ _module_preset=”default” custom_padding=”20px||20px||true|false” global_colors_info=”{}”][et_pb_column type=”3_5″ _builder_version=”4.21.0″ _module_preset=”default” custom_css_main_element=”margin: auto;” global_colors_info=”{}”][et_pb_text _builder_version=”4.25.2″ _module_preset=”default” header_2_font=”Anak Medium||||||||” header_2_font_size=”22px” custom_margin=”||10px||false|false” locked=”off” global_colors_info=”{}”]<\/p>\n

EXAMPLE<\/span><\/h2>\n

[\/et_pb_text][et_pb_text _builder_version=”4.25.2″ _module_preset=”default” locked=”off” global_colors_info=”{}”]<\/p>\n

A construction company (the Insured) undertakes the execution of a contract – the construction of a project – assigned by the Project Owner (the Beneficiary). The Insurer (the Guarantor) signs the insurance contract with the Insured and issues the guarantee letter, under which it assumes, for a specified period and up to a clearly defined amount, the security of the Beneficiary for any damages arising from the improper execution of the Insured’s obligations outlined in the project contract.<\/p>\n

 <\/p>\n

[\/et_pb_text][\/et_pb_column][et_pb_column type=”2_5″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/akeron.gr\/wp-content\/uploads\/2023\/10\/Eggiiseis-21xB.png” title_text=”Eggiiseis – 2(1x)B” _builder_version=”4.22.2″ _module_preset=”default” custom_margin_tablet=”20px||||false|false” custom_margin_phone=”20px||||false|false” custom_margin_last_edited=”on|tablet” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.22.1″ _module_preset=”default” background_image=”https:\/\/akeron.gr\/wp-content\/uploads\/2023\/09\/asfalisi-eggyiseon-reasons-section-bg.jpg” custom_padding=”40px||40px||true|false” global_colors_info=”{}”][et_pb_row _builder_version=”4.22.1″ _module_preset=”default” custom_padding=”10px||10px||false|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.22.1″ _module_preset=”default” header_2_font=”Anak Medium||||||||” header_2_font_size=”22px” text_orientation=”center” custom_margin=”||10px||false|false” locked=”off” global_colors_info=”{}”]<\/p>\n

WHY SHOULD I CHOOSE SURETY BONDS OVER BANK GUARANTEES?<\/h2>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_4,1_4,1_4,1_4″ _builder_version=”4.22.1″ _module_preset=”default” custom_padding=”20px||||false|false” global_colors_info=”{}”][et_pb_column type=”1_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.21.0″ _module_preset=”default” text_font=”Anak Bold||||||||” text_text_color=”#394F5A” text_font_size=”60px” text_line_height=”70px” custom_margin=”||10px||false|false” global_colors_info=”{}”]<\/p>\n

01<\/p>\n

[\/et_pb_text][et_pb_text _builder_version=”4.22.1″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

High and stable ratings from international rating agencies<\/p>\n

[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.21.0″ _module_preset=”default” text_font=”Anak Bold||||||||” text_text_color=”#394F5A” text_font_size=”60px” text_line_height=”70px” custom_margin=”||10px||false|false” locked=”off” global_colors_info=”{}”]<\/p>\n

02<\/p>\n

[\/et_pb_text][et_pb_text _builder_version=”4.22.1″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

No fixed or other current assets as collaterals required<\/p>\n

[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.21.0″ _module_preset=”default” text_font=”Anak Bold||||||||” text_text_color=”#394F5A” text_font_size=”60px” text_line_height=”70px” custom_margin=”||10px||false|false” locked=”off” global_colors_info=”{}”]<\/p>\n

03<\/p>\n

[\/et_pb_text][et_pb_text _builder_version=”4.22.1″ _module_preset=”default” locked=”off” global_colors_info=”{}”]<\/p>\n

Alternative product for liquidity support\/release<\/p>\n

[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.21.0″ _module_preset=”default” text_font=”Anak Bold||||||||” text_text_color=”#394F5A” text_font_size=”60px” text_line_height=”70px” custom_margin=”||10px||false|false” locked=”off” global_colors_info=”{}”]<\/p>\n

04<\/p>\n

[\/et_pb_text][et_pb_text _builder_version=”4.22.1″ _module_preset=”default” locked=”off” global_colors_info=”{}”]<\/p>\n

Charges applicable only for the duration of the Surety Bond<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_4,1_4,1_4,1_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.21.0″ _module_preset=”default” text_font=”Anak Bold||||||||” text_text_color=”#394F5A” text_font_size=”60px” text_line_height=”70px” custom_margin=”||10px||false|false” locked=”off” global_colors_info=”{}”]<\/p>\n

05<\/p>\n

[\/et_pb_text][et_pb_text _builder_version=”4.22.1″ _module_preset=”default” locked=”off” global_colors_info=”{}”]<\/p>\n

Flexibility and speed<\/p>\n

[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.21.0″ _module_preset=”default” text_font=”Anak Bold||||||||” text_text_color=”#394F5A” text_font_size=”60px” text_line_height=”70px” custom_margin=”||10px||false|false” locked=”off” global_colors_info=”{}”]<\/p>\n

06<\/p>\n

[\/et_pb_text][et_pb_text _builder_version=”4.22.1″ _module_preset=”default” locked=”off” global_colors_info=”{}”]<\/p>\n

Ability of the beneficiary to diversify his portfolio<\/p>\n

[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.21.0″ _module_preset=”default” text_font=”Anak Bold||||||||” text_text_color=”#394F5A” text_font_size=”60px” text_line_height=”70px” custom_margin=”||10px||false|false” locked=”off” global_colors_info=”{}”]<\/p>\n

07<\/p>\n

[\/et_pb_text][et_pb_text _builder_version=”4.22.1″ _module_preset=”default” locked=”off” global_colors_info=”{}”]<\/p>\n

Greater risk tolerance through optional co-insurance<\/p>\n

[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.22.1″ _module_preset=”default” background_color=”#D8E0EF” custom_padding=”40px||40px||true|false” global_colors_info=”{}”][et_pb_row _builder_version=”4.22.1″ _module_preset=”default” width_tablet=”220px” width_phone=”200px” width_last_edited=”off|desktop” max_width_tablet=”220px” max_width_phone=”200px” max_width_last_edited=”off|desktop” module_alignment=”center” height_tablet=”220px” height_phone=”200px” height_last_edited=”off|desktop” max_height_tablet=”220px” max_height_phone=”200px” max_height_last_edited=”off|desktop” custom_margin=”||||false|false” custom_padding=”||10px||false|false” locked=”off” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.22.2″ _module_preset=”default” header_2_font=”Anak Medium||||||||” header_2_font_size=”22px” text_orientation=”center” custom_margin=”||10px||false|false” locked=”off” global_colors_info=”{}”]<\/p>\n

FORMS OF SURETY BONDS<\/h2>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ use_custom_gutter=”on” gutter_width=”2″ _builder_version=”4.22.2″ _module_preset=”default” custom_padding=”10px||||false|false” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.22.2″ _module_preset=”default” background_color=”RGBA(255,255,255,0)” use_background_color_gradient=”on” background_color_gradient_stops=”rgba(57,79,90,0.5) 0pt|rgba(57,79,90,0.5) 100pt” background_color_gradient_unit=”pt” background_color_gradient_overlays_image=”on” background_image=”https:\/\/akeron.gr\/wp-content\/uploads\/2023\/10\/Eggiiseis-72x\u0392.png” custom_padding=”100px||100px||true|false” global_colors_info=”{}”][et_pb_text _builder_version=”4.22.1″ _module_preset=”default” header_2_font=”Anak Medium||||||||” header_2_font_size=”22px” text_orientation=”center” background_layout=”dark” custom_margin=”||||false|false” locked=”off” global_colors_info=”{}”]<\/p>\n

CONTRACT
SURETY BONDS<\/h2>\n

[\/et_pb_text][et_pb_text _builder_version=”4.22.1″ _module_preset=”default” text_orientation=”center” background_layout=”dark” max_width=”230px” module_alignment=”center” locked=”off” global_colors_info=”{}”]<\/p>\n

They provide financial security and assurance that contractual obligations will be met, principally in building and construction projects.<\/p>\n

[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.22.2″ _module_preset=”default” use_background_color_gradient=”on” background_color_gradient_stops=”rgba(57,79,90,0.5) 0%|rgba(57,79,90,0.5) 100%” background_color_gradient_overlays_image=”on” background_image=”https:\/\/akeron.gr\/wp-content\/uploads\/2023\/10\/Eggiiseis-82x\u0392.png” custom_padding=”100px||100px||true|false” global_colors_info=”{}”][et_pb_text _builder_version=”4.22.1″ _module_preset=”default” header_2_font=”Anak Medium||||||||” header_2_font_size=”22px” text_orientation=”center” background_layout=”dark” custom_margin=”||||false|false” locked=”off” global_colors_info=”{}”]<\/p>\n

COMMERCIAL
SURETY BONDS<\/h2>\n

[\/et_pb_text][et_pb_text _builder_version=”4.22.1″ _module_preset=”default” text_orientation=”center” background_layout=”dark” max_width=”230px” module_alignment=”center” locked=”off” global_colors_info=”{}”]<\/p>\n

They ensure the usual operating activities of Commercial Businesses, as well as the fulfillment of obligations or commitments.<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.22.1″ _module_preset=”default” background_image=”https:\/\/akeron.gr\/wp-content\/uploads\/2023\/09\/asfalisi-eggyiseon-typoi-bg.jpg” custom_padding=”40px||40px||true|false” global_colors_info=”{}”][et_pb_row _builder_version=”4.22.1″ _module_preset=”default” width_tablet=”220px” width_phone=”200px” width_last_edited=”off|desktop” max_width_tablet=”220px” max_width_phone=”200px” max_width_last_edited=”off|desktop” module_alignment=”center” height_tablet=”220px” height_phone=”200px” height_last_edited=”off|desktop” max_height_tablet=”220px” max_height_phone=”200px” max_height_last_edited=”off|desktop” custom_padding=”||10px||false|false” locked=”off” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.22.1″ _module_preset=”default” header_2_font=”Anak Medium||||||||” header_2_font_size=”22px” text_orientation=”center” custom_margin=”||10px||false|false” custom_padding=”0px|||||” locked=”off” global_colors_info=”{}”]<\/p>\n

MAIN TYPES OF SURETY BONDS<\/h2>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_3,1_3,1_3″ _builder_version=”4.22.1″ _module_preset=”default” custom_padding=”||10px||false|false” global_colors_info=”{}”][et_pb_column type=”1_3″ _builder_version=”4.22.1″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.22.1″ _module_preset=”default” text_font=”Anak Bold||||||||” text_font_size=”24px” header_2_font=”||||||||” header_3_font=”Anak Bold||||||||” header_3_font_size=”24px” custom_margin=”||10px||false|false” header_3_font_size_tablet=”22px” header_3_font_size_phone=”20px” header_3_font_size_last_edited=”on|phone” locked=”off” global_colors_info=”{}”]<\/p>\n

01<\/p>\n

BID BOND<\/h3>\n

[\/et_pb_text][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” locked=”off” global_colors_info=”{}”]<\/p>\n

Secures that the bid has been submitted in good faith and that the contractor intends to enter the contract at the bid price and provide the required bond (e.g. Performance bond, Advance Payment Bond) if awarded the contract (e.g. Public or Private Sector tenders).<\/span><\/p>\n

[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.22.1″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.24.2″ _module_preset=”default” text_font=”Anak Bold||||||||” text_font_size=”24px” header_2_font=”||||||||” header_3_font=”Anak Bold||||||||” header_3_font_size=”24px” custom_margin=”||10px||false|false” header_3_font_size_tablet=”22px” header_3_font_size_phone=”20px” header_3_font_size_last_edited=”on|phone” locked=”off” global_colors_info=”{}”]<\/p>\n

02<\/p>\n

PERFORMANCE BOND<\/h3>\n

[\/et_pb_text][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” locked=”off” global_colors_info=”{}”]<\/p>\n

Protects the project owner (Beneficiary) from financial loss if the contractor fails to comply with the terms and conditions of the contract.<\/span><\/p>\n

[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.22.1″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.22.1″ _module_preset=”default” text_font=”Anak Bold||||||||” text_font_size=”24px” header_2_font=”||||||||” header_3_font=”Anak Bold||||||||” header_3_font_size=”24px” custom_margin=”||10px||false|false” header_3_font_size_tablet=”22px” header_3_font_size_phone=”20px” header_3_font_size_last_edited=”on|phone” locked=”off” global_colors_info=”{}”]<\/p>\n

03<\/p>\n

ADVANCE PAYMENT BOND<\/h3>\n

[\/et_pb_text][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” locked=”off” global_colors_info=”{}”]<\/p>\n

Ensures that the advance payment given to the contractor undertaking a project will be returned to the project owner in case of non-completion and implementation of the contract.<\/span><\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_3,1_3,1_3″ _builder_version=”4.22.1″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_3″ _builder_version=”4.22.1″ _module_preset=”default” global_colors_info=”{}”][et_pb_text module_class=”custom-text” _builder_version=”4.24.2″ _module_preset=”default” text_font=”Anak Bold||||||||” text_font_size=”24px” header_2_font=”||||||||” header_3_font=”Anak Bold||||||||” header_3_font_size=”24px” custom_margin=”||10px||false|false” header_3_font_size_tablet=”22px” header_3_font_size_phone=”20px” header_3_font_size_last_edited=”on|phone” locked=”off” global_colors_info=”{}”]<\/p>\n

04<\/p>\n

MAINTENANCE<\/h3>\n

BOND<\/h3>\n

[\/et_pb_text][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” locked=”off” global_colors_info=”{}”]<\/p>\n

It assures the project owner (Beneficiary) that the contractor (Principal) who has carried out a project can execute the maintenance contract. At the same time,\u00a0 it protects him from the financial loss he will suffer in case the contractor fails to comply with the terms of the maintenance contract (e.g. Maintenance \u2013 Good Operation of Photovoltaic Parks).<\/span><\/p>\n

[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.22.1″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.24.2″ _module_preset=”default” text_font=”Anak Bold||||||||” text_font_size=”24px” header_2_font=”||||||||” header_3_font=”Anak Bold||||||||” header_3_font_size=”24px” custom_margin=”||10px||false|false” header_3_font_size_tablet=”22px” header_3_font_size_phone=”20px” header_3_font_size_last_edited=”on|phone” locked=”off” global_colors_info=”{}”]<\/p>\n

05<\/p>\n

CUSTOMS &
TAX BOND<\/h3>\n

[\/et_pb_text][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” locked=”off” global_colors_info=”{}”]<\/p>\n

Assures the Beneficiary (customs & tax authorities) regarding the coverage of specific Obligations of the Principal, i.e. customs duties and other charges provided for by EU and\/or international legislation related to the import or export of goods.<\/span><\/p>\n

[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.22.1″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” text_font=”Anak Bold||||||||” text_font_size=”24px” header_2_font=”||||||||” header_3_font=”Anak Bold||||||||” header_3_font_size=”24px” custom_margin=”||10px||false|false” header_3_font_size_tablet=”22px” header_3_font_size_phone=”20px” header_3_font_size_last_edited=”on|phone” locked=”off” global_colors_info=”{}”]<\/p>\n

06<\/p>\n

PAYMENT BOND<\/h3>\n

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Ensures sub \u2013 contractors, workers and suppliers are compensated as outlined in the contract. This bond is also used for other projects. In commercial agreements it guarantees that Beneficiaries will be paid by the Principals in accordance with the terms of their contract<\/span><\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.22.1″ _module_preset=”default” background_color=”#EDF1F7″ custom_padding=”40px||40px||true|false” global_colors_info=”{}”][et_pb_row column_structure=”2_5,3_5″ make_equal=”on” _builder_version=”4.25.2″ _module_preset=”default” custom_padding=”20px||20px||true|false” global_colors_info=”{}”][et_pb_column type=”2_5″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/akeron.gr\/wp-content\/uploads\/2023\/10\/Eggiiseis-21xB.png” title_text=”Eggiiseis – 2(1x)B” _builder_version=”4.22.2″ _module_preset=”default” custom_margin_tablet=”20px||||false|false” custom_margin_phone=”20px||||false|false” custom_margin_last_edited=”on|tablet” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][et_pb_column type=”3_5″ _builder_version=”4.21.0″ _module_preset=”default” custom_css_main_element=”margin: auto;” global_colors_info=”{}”][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” header_2_font=”Anak Medium||||||||” header_2_font_size=”22px” custom_margin=”||10px||false|false” locked=”off” global_colors_info=”{}”]<\/p>\n

Why do you need Surety Bonds<\/span><\/h2>\n

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Providing a guarantee letter from an insurance company offers flexibility and creates conditions for growth, even in times of crisis. Businesses with a Greek Tax Indetification Number and double entry books can apply for surety bond issuance.<\/span><\/p>\n

With duration ranging from one month to eight years, several sectors can benefit from surety bonds, such as: Energy, Construction, Food & Beverages, Pharmaceuticals, Tourism, Electrical Appliance Trade, and more.<\/span><\/p>\n

Surety Bonds have many advantages over bank guarantees.\u00a0 First and foremost, Surety Bonds provide the necessary liquidity immediately and they are a low-risk option, since insurance companies generally have better credit ratings than banks.<\/span><\/p>\n

Regarding the cost, charges apply only for the duration of the Surety Bond, while in bank guarantees charges apply per quarter. Additionally, unlike banks, insurance companies do not require fixed or other current assets as collaterals.<\/span><\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ custom_padding_last_edited=”on|tablet” _builder_version=”4.22.1″ _module_preset=”default” background_color=”#FAFAFA” custom_padding=”60px||60px||true|false” custom_padding_tablet=”40px||40px||true|false” custom_padding_phone=”40px||40px||true|false” global_colors_info=”{}”][et_pb_row column_structure=”3_5,2_5″ make_equal=”on” _builder_version=”4.22.1″ _module_preset=”default” width=”100%” max_width=”100%” custom_padding=”10px||10px||true|false” locked=”off” global_colors_info=”{}”][et_pb_column type=”3_5″ _builder_version=”4.22.1″ _module_preset=”default” custom_padding=”|80px||80px|false|true” custom_padding_tablet=”|60px|20px|60px|false|true” custom_padding_phone=”|40px||40px|false|true” custom_padding_last_edited=”on|tablet” custom_css_main_element=”margin: auto;” global_colors_info=”{}” custom_padding__hover_enabled=”off|desktop”][et_pb_text _builder_version=”4.22.1″ _module_preset=”default” header_2_font=”Anak Medium||||||||” header_2_font_size=”22px” custom_margin=”||20px||false|false” locked=”off” global_colors_info=”{}”]<\/p>\n

SURETY BONDS: FAQ<\/h2>\n

[\/et_pb_text][dsm_faq dsm_accordion_gap=”30px” dsm_make_accordion_toggle=”on” dsm_close_bg_color=”RGBA(255,255,255,0)” dsm_open_font_icon=”K||divi||400″ dsm_close_font_icon=”L||divi||400″ dsm_open_icon_bg_color=”#FAFAFA” dsm_open_icon_color=”#d9d9d9″ dsm_close_icon_bg_color=”#FAFAFA” dsm_close_icon_color=”#d9d9d9″ dsm_open_font_size=”32px” dsm_close_font_size=”32px” dsm_animate_icon=”on” _builder_version=”4.27.4″ _module_preset=”default” border_radii_dsm_icon_open_border=”on|50%|50%|50%|50%” border_radii_dsm_icon_close_border=”on|50%|50%|50%|50%” global_colors_info=”{}”][dsm_faq_child dsm_title=”Surety Bonds and Trade Credit Insurance. Are they the same policy?” dsm_content=”<\/p>\n

They are two different insurance solutions. Surety Bonds allow businesses to guarantee through a third party the fulfillment of a variety of obligations, while Trade Credit Insurance protects businesses from losses coming from the insolvency or protracted default of their customers.<\/p>\n

” _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}” parentOrderClass=”dsm_faq_0″][\/dsm_faq_child][dsm_faq_child dsm_title=”Do Surety Bonds cover my business internationally?” dsm_content=”<\/p>\n

Of course, surety bonds can provide coverage locally and internationally.<\/span><\/p>\n

” _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}” parentOrderClass=”dsm_faq_0″][\/dsm_faq_child][\/dsm_faq][\/et_pb_column][et_pb_column type=”2_5″ _builder_version=”4.21.0″ _module_preset=”default” background_enable_image=”off” background_position=”top_center” global_colors_info=”{}”][et_pb_image src=”https:\/\/akeron.gr\/wp-content\/uploads\/2023\/09\/asfalisi-eggyiseon-img-3.jpg” title_text=”asfalisi-eggyiseon-img-3″ align=”right” align_tablet=”center” align_phone=”center” align_last_edited=”on|phone” _builder_version=”4.22.1″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”Section – Text & Link to all SERVICES” _builder_version=”4.22.2″ _module_preset=”default” border_width_bottom=”1px” border_color_bottom=”#B8C6DD” global_colors_info=”{}”][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.22.2″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.22.2″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

Why choose Gkiolekas Insurance Solutions<\/span><\/h2>\n

Gkiolekas Insurance Solutions is a part of NAK Group, which reintroduced Surety Bonds in Greece. In 2017 Surety Bonds returned to the Greek market after many years of absence, via the strategic partnership of NAK Katsiberis and INTERAMERICAN, a member of the ACHMEA Group. Due to its experience and expertise, NAK Katsiberis is the market leader in Surety Bonds in Greece and a partner of all the insurance companies that specialize in this field.<\/p>\n

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Surety BondsAn innovative financial instrument at the service of businessesWhat is a Surety BondSurety Bonds are an innovative financial instrument that allows the issuance of Guarantee Letters through an insurance company. This insurance solution enables businesses to guarantee the fulfillment of various obligations through a third party.Surety Bond is a written unconditional undertaking issued by the Insurer (Guarantor) on behalf of a client (Principal) in favour of a third party (Beneficiary) to pay on first demand under certain events. These events could be the non-performance according to the agreed terms, the non delivery of goods, the failure to fulfil any of a tender\u2019s conditions or otherwise.Almost any sale, service or agreement can be secured through the issuance of a Surety Bond.EXAMPLEA construction company (the Insured) undertakes the execution of a contract – the construction of a project – assigned by the Project Owner (the Beneficiary). The Insurer (the Guarantor) signs the insurance contract with the Insured and issues the guarantee letter, under which it assumes, for a specified period and up to a clearly defined amount, the security of the Beneficiary for any damages arising from the improper execution of the Insured’s obligations outlined in the project contract.  WHY SHOULD […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":360425,"menu_order":2,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"Surety Bonds","_seopress_titles_desc":"Gkiolekas Insurance Solutions is the market leader in Surety Bonds in Greece, offering reliable and advanced services in this niche field.","_seopress_robots_index":"","_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"class_list":["post-360516","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/akeron.gr\/en\/wp-json\/wp\/v2\/pages\/360516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/akeron.gr\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/akeron.gr\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/akeron.gr\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/akeron.gr\/en\/wp-json\/wp\/v2\/comments?post=360516"}],"version-history":[{"count":39,"href":"https:\/\/akeron.gr\/en\/wp-json\/wp\/v2\/pages\/360516\/revisions"}],"predecessor-version":[{"id":363497,"href":"https:\/\/akeron.gr\/en\/wp-json\/wp\/v2\/pages\/360516\/revisions\/363497"}],"up":[{"embeddable":true,"href":"https:\/\/akeron.gr\/en\/wp-json\/wp\/v2\/pages\/360425"}],"wp:attachment":[{"href":"https:\/\/akeron.gr\/en\/wp-json\/wp\/v2\/media?parent=360516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}