• 3808 Dungeon Dr, Belize City
  • Opening Hours: 08:00am - 05:00pm

HPI Insurance Company Limited

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Bonds Insurance

Secure your business transactions with bonds, providing financial guarantees for performance, payment, and other obligations.

Bonds

A Bond provides a promise to pay in circumstances where one contracting party fails to fulfil its contractual obligations to another. In a typical contracting situation three parties are involved: the principal, the obligee, and the surety company.

  • The principal is who obtains the surety bond to guarantee a contract is fulfilled, or to comply with various legal requirements.
  • The obligee is the party who requires a surety bond to protect against potential loss.
  • The surety company, often an insurance company, provides the surety bond to the principal, acting as a guarantor in the event that the principal fails to fulfil its contractual obligations.

Types of Bonds we offer

1.Temporary Importation Bond

It is a guarantee required for importing goods into Belize on a temporary basis without paying customs duties or taxes upfront.

2. Bid, Advance Payment & Retention Bond

These are specialized guarantees designed to protect project owners and ensure contractors fulfill their obligations.

3. Performance Bond

It is a financial guarantee that ensures a contractor or service provider fulfills their contractual obligations as agreed upon in a project.

4. Mine Quarry Bond

It is a specialized surety bond required for mining and quarrying operations to ensure compliance with regulations.

5. Warehouse Bond

Covers goods in the value of the sum insured, which the duty has not been paid, and are stored in a secure place.

5. Export Bond

Covers the insured for exportation of goods without paying taxes up to the sum insured. Used mostly by Custom Brokers and some Importers.

Why acquire a bond?

  • They provide a predictable income stream. Typically, bonds pay interest twice a year.
  • If the bonds are held to maturity, bondholders get back the entire principal, so bonds are a way to preserve capital while investing.
  • Bonds dimish the risk and exposure compared to more volatile type of investments.
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