Bonds and Guarantee

Bonds and Guarantee

HAMILTON INSURANCE is in a position to issue most types of local bonds and guarantees required by contractors and importers including customs and court bonds. A bond or guarantee can be described as a written understanding by the guarantor to accept responsibility for the performance of a contractual obligation entered into by the contractor liable under the contract in the event of the contractor defaulting.


Agents Bond
This bond is required by Customs from forwarding and clearing companies who handle goods on behalf of other companies for the due observation of ZIMRA regulations and payment.

Construction Bonds

Bid Bond
This bond ascertains the seriousness of the contractor. It is seen as an assurance by the contractors that the tender procedures will be followed.

Performance Bond
Covers against defective workmanship and ensures work is done to specifications and standards within the required time.

Court Bonds

Administration of Estate Bond
The Master of High Court requires this bond to ensure that beneficiaries will not be prejudiced by mal-administration and fraud by the administrator of the estate.
Judicial Management Bond
This bond is required by the Master of High Court to ensure the due performance of expert management that has been called in to avoid the liquidation of a company that is experiencing financial difficulties.
Liquidators Bond
This bond is required by the Master of High Court to ensure the due performance of the person appointed in the liquidation proceedings of a company.