Companies in almost every industry have been relying on for centuries. Used as tools to secure contracts, there are many types of bonds available – each with their own benefits. Performance bonds, thanks to the complete protection and reassurance they offer, are one of the most frequently issued type of bond.
As Allianz Trade’s Global Surety Legal Coordinator, these bonds are part of my expertise. Below, I explore their basic features, and the benefits of choosing an insurance company as a bond provider. I also look at market changes, and why it’s essential that bond providers constantly adapt to meet evolving client needs.