A guarantee serves to provide protection when a specific contracting party fails to perform all its obligations stipulated in a contract.
As an example, this typically happens when that contracting party is declared bankrupt and unable to continue its operations.
Once there is clear evidence that the contracting party did not meet its contractual obligations, a claim could to be submitted to one of our offices, or as stipulated in the guarantee document we issued.
To effectively process a claim, our claims-team require specific information and documentation to confirm the validity of the claim and the liability in terms of the guarantee. Some of the supporting information and -documentation they may require will vary depending a range of factors.
To assist us with this process, the claimant should attach a copy of the relevant guarantee and as much relevant material as possible to the notification submission.
Most importantly: We encourage claimants and possible claimants to contact our offices without delay should they have questions about submitting a claim. Our claims-team’s first reaction will be to identify and confirm the information and material needed to start the process.