A strong position on the insurance market, developed over the years, gives us an advantage over the competition in the form of competitive rates and high limits that we are able to offer our clients.
For many years we have been gaining experience by cooperating in the field of trade receivables and contractual guarantees with entities from the armaments, construction, heavy industry, pharmaceutical, agricultural and food industries.

As a broker, we identify the needs of our clients and tailor the best solutions to them. In the case of a large number of bid guarantees, we implement procedures that make obtaining guarantees very quick and easy. Within the scope of contractual guarantees, we ensure the comfort of conducting business by opening guarantee lines with an Insurance Company on conditions that are optimal for the customer and in appropriate amounts. In the case of trade receivables, we conduct competitive procedures aimed at selecting the Insurer who will offer the most favourable conditions for the Client in terms of the amount of granted credit limits, quality and scope of protection, price and adjustment to the specificity of the industry.

In practice, the most common types of financial insurance are the insurance guarantees and the insurance of receivables. An insurance guarantee is a financial instrument, which allows the party, on the order of which the guarantee has been granted, not to freeze its own funds during the performance of the ordered task. It is a unilateral obligation of the insurer to pay a given sum of money to the Beneficiary, if the principal of the guarantee fails to fulfil its obligations.

Insurance guarantees:

• increase the credibility of the Principal's contractor for the Beneficiary,
• relieve the Principal's credit facility and, at the same time, help to improve the financial liquidity of the contractor (e.g. Ability to participate in multiple tenders without blocking its own funds),
• enable securing contracts carried out at home and abroad.

The most important guarantees include:

Bid bond (tender guarantee)

It enables the entrepreneur to participate in tenders without having to engage its own money. It replaces the cash deposit, which is to be paid in order to participate in the tender proceedings. By granting a guarantee, the Insurance Company undertakes to pay the amount specified therein, if the entrepreneur who won the tender refuses to sign the contract on the terms defined in the offer or fails to perform the obligations resulting from the tender in any other manner.

Guarantee of proper contract performance

It secures the Beneficiary's claim after the contract is performed by the contractor, that is within the period of validity of the guarantee of quality and warranty for defects. It usually ranges from 1.5 to 3% of the contract value. The period of its validity may be up to 96 months.

Guarantee to pay back the advance payment

It secures the Beneficiary's claim after the contract is performed by the contractor, that is within the period of validity of the guarantee of quality and warranty for defects. It usually ranges from 1.5 to 3% of the contract value. The period of its validity may be up to 96 months.

Guarantee to pay back the advance payment

It is granted at the request of an entrepreneur who, in accordance with the contract concluded with the Beneficiary, is to receive an advance payment for its performance. Under this guarantee, the Insurer is required to pay the amount specified therein to the Beneficiary, if the entrepreneur fails to perform the contract and does not pay back the advance payment within the prescribed period. The guarantee amount depends on the sector, in which the entrepreneur operates, and ranges from 10 up to 80% of the contract value.

Three parties participate in the process of granting a guarantee:

• Principal of the guarantee the entity required to provide security in the form of an insurance guarantee.
• Beneficiary an entity commissioning a task and therefore requiring a security in the form of a guarantee to be provided for its benefit.
• Insurance Company an entity which, at the request of the Principal, provides a guarantee to the Beneficiary.

MAK Ubezpieczenia provides coordination of the activities of the above-mentioned parties from submitting the application for a guarantee up to delivery of the guarantee document to the Beneficiary:

• We submit the application for granting a guarantee to the Insurance Companies along with a complete set of the required documents,
• We provide the Principal with the best guarantee offer made by the Insurance Company (the best price and terms of granting it, that is the security required),
• We agree the acceptable guarantee form with the Beneficiary,
• We mediate in the transfer of documents between the Principal and the Insurance Company (guarantee contracts, collateral agreements, guarantees) and between the Insurance Company and the Beneficiary,
• If necessary, we provide support in the process of guarantee enforcement.