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Bond Issuance

How to choose a product

Our company offers a wide variety of surety bonds and credit insurance products to meet the diverse needs of our customers. You are advised to consider the following before choosing a product:
Check the type of risk to be secured by a product
Before product selection, risk type should be checked to review what will be the loss incurring from the Principal’s default, and to what degree the loss will be secured.
Check to see if the bond amount is appropriate
Bond amount and period are determined by taking into account the economic efficiency of the Principal and Obligee. Bond amount, therefore, should be checked to see if it is enough to secure a loss.
Check the following factors that determine bond premium
Premium rates vary depending on factors such as risk type, range of loss, bond amount and period, and claim payment criteria and method.

Bond Issuance Process

An applicant submits all required documents such as a copy of the contract, the bond request form, indemnity agreement, etc.

SGI's underwriter reviews the bond request and conducts a credit analysis of the applicant. If necessary, an applicant may be required to submit acceptable collateral to secure the bond which SGI would issue.

The applicant and SGI enter into the bond contract and the bond is issued upon the applicant's payment of the premium (fee).

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