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Why Euroins?
  • A safe and efficient way to obtain collateral
  • Individual approach to each client
  • Adequate reinsurance program

What is this insurance?

Insurance that ensures performance by covering the liability of the insured (contractor), according to Art. 111 para. 5, item 3 of the ZOP.

What does the insurance cover?

We cover the risk of the beneficiary under the policy of complete non-performance and/or partial, delayed and/or other inaccurate performance of the obligations of the insured (contractor), arising from the terms of the Public Procurement Agreement and according to the specifics of the coverage provided under each type of guarantee, through one of the following clauses:

Advance payment guarantee

Guarantees targeted spending of funds provided in advance under a contract for the award of a public contract.

Guarantee of good performance

Guarantees accurate and timely fulfillment of assumed obligations of a contractor/insurer to an assignor/beneficiary under a concluded public procurement contract.

Post-contractual liability guarantee

Guarantees the performance of post-contractual/guarantee obligations of the contractor/insurer to the contracting authority/beneficiary during the validity period of the guarantee period under the concluded public procurement contract.

Where does the insurance apply?

On the territory of the Republic of Bulgaria.

Insurance conditions

What is the duration of the insurance cover?

Depending on the terms of the public procurement contract.

What is the sum insured?

Depending on the terms of the public procurement contract.

Necessary documents for taking out insurance:
  • Questionnaire
  • Other documents - additional documents requested in connection with the issuance of a policy or an addendum to it
Terms used:

ZOP - Law on Public Procurement

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