Making the right choice to mitigate the risks brought about by the breach of contracts, agreements or provisions of the law is imperative to sound business and one’s protection.
A bond is a three-party agreement where AXA Philippines assures the performance of an obligation of the bond applicant (principal/obligor) to a third party (obligee/bond beneficiary), by virtue of the contract or as required by law.
Coverage:
A bond is a three-party agreement where AXA Philippines assures the performance of an obligation of the bond applicant (principal/obligor) to a third party (obligee/bond beneficiary), by virtue of the contract or as required by law.
A reconstituted title bond undertakes to indemnify the mortgagee against any loss or damage which it may suffer arising from claims presented to any person against the property whose rights might have been prejudiced, pursuant to section 7 & 8 of Republic act no. 26 which provides for special procedure for the reconstitution of torrens certificate of title that are missing and not fictitious titles which are existing.
Guarantees the payment of money or loan (financial guarantee) or the payment of the purchase price or balance thereof within the stipulated period in accordance with the terms and conditions of the agreement (credit guarantee).
Seeks to cover an employer against loss of money or of any other kind of property, whether real or personal, arising from the fraudulent or dishonest acts of the employees covered.
Seeks to indemnify the bank or issuing corporation against any loss or damage which it may suffer by reason of the replacement of lost check or lost stock certificate, respectively.