A customs bond is a surety bond that guarantees payment of customs fees and duties when importing goods, ensuring compliance with trade procedures and government obligations; importers typically work with freight forwarders who arrange for these bonds, and Credit Guarantee provides such bonds, offering financial security and peace of mind to importers.
A performance bond is a surety bond that ensures a contractor completes a project as per the contract terms, providing confidence to clients and protection against losses in case of non-compliance, typically used in construction but also applicable to various large projects.
Mitigating business risks is essential, but understanding the difference between surety bonds and insurance can be challenging for business owners seeking the right coverage.
A customs bond is a surety bond that guarantees payment of customs fees and duties when importing goods, ensuring compliance with trade procedures and government obligations; importers typically work with freight forwarders who arrange for these bonds, and Credit Guarantee provides such bonds, offering financial security and peace of mind to importers.
A performance bond is a surety bond that ensures a contractor completes a project as per the contract terms, providing confidence to clients and protection against losses in case of non-compliance, typically used in construction but also applicable to various large projects.
Mitigating business risks is essential, but understanding the difference between surety bonds and insurance can be challenging for business owners seeking the right coverage.
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