SIGAL UNIQA issues insurance guarantee which are the best alternative compared to the financial means petrification for further business development. Through this product, for all insured contracts and guarantees SIGAL UNIQA GROUP AUSTRIA covers the insured financial value, in cases of contract bridging or incompliance between two businesses.
Offer Guarantee
Guaranteeing the biding party for submitting of the insured offer to the contracting authority; Guarantees the company’s integrity that if it will result as the winner in a tender then a contract will take place.
Contract Guarantee
A necessary products for participating parties in a given contract, in which bridging of any kind will result in different financial obligations.
Advance payment guarantee
Any firm can receive an advance payment by a Contractual Authority for the contract implementation and for any amount paid to the contractor, this authority will require a guarantee.
Customer guarantee
SIGAL UNIQA guarantees the physical and judicial integrity of a person towards the General Directorate of Tariffs and Customers in compliance with the law and regulation requested by the GDTC to accredit a license/or exercise of an given activity: Customary Warehouse and Agency.
Quality guarantee
SIGAL offers this service to guarantee that a construction company, service etc., will conduct the construction works as agreed upon in the contract, according to the construction, functions etc., contracted until the object or project has been finalized. In any shortcoming cases, SIGAL guarantees material or works substitutions that have resulted in incompliance with the contract standards up to the limits/amount defined in the guarantee.
How much does it cost?
Annual guarantee premiums vary from 0.5% up to 6% of the insured amount depending on the customer’s risks.
Documentation need by the customer for application:
- Extract of Company’s NUIS from the National Business Centre
- CVs of the company and managing staff
- Financial statements of the last two years
- Filled in application questionnaire
Are there any companies who cannot get this type of insurance?
- All companies that have a negative financial statement (with loses) cannot be insured by SIGAL.
- Any company that has caused damages in previous periods or that have now showed integrity during contract implementations cannot be insured.
