The different services provided by MAPFRE to the users have a number of general and specific conditions that the insured must meet in order to access to all its benefits and advantages.
- The general and special conditions of the MAPFRE Bond service indicate the types of business that could require a bond, for legal or governmental requirements, or between the parties.
- Therefore, there are the following Contract Bonds: Bids, Payment and Execution or Commercial Bonds that include Payment guarantee Bonds, Licenses and Permits, and Judicial, among others.
- It is important that users take into account what are their responsibilities under the bonds agreement and the requirements to qualify for them. They should take into consideration that bonds are not an insurance, but a guarantee to a third party with whom the principal has a contractual relation.