Advent Risk Management Ltd offers bond facilities enabling the provision of performance and guarantee bonds for companies operating in Ireland, UK and EU on behalf of insurer Advent Insurance DAC. Worldwide Reinsurers with investment grade credit ratings underpin this strong product offering; Qatar Re, AXA XL Re and Atradius Re, all of them experts within the Bond & Surety market. Advent Risk Management Ltd is authorised and regulated by the Central Bank of Ireland
A Performance bond is a type of surety bond that guarantees contracts are fulfilled. These bonds are most commonly used in the construction industry to ensure projects are completed according to the contract.
A Development bond is normally in favour of Local Authorities/Councils/Water companies to ensure that the Contractor has fulfilled his obligations in relation to the construction and maintenance of roads or sewers.
A Customs bond is a contract to ensure that all the duties and fees associated with the rules and regulations of importing or other Customs activities are paid to Customs by the principal e.g. Tax Warehouse or Deferred Duty.
Advance payment or deposit payment is a type of payment made ahead of its normal schedule such as paying for goods or services before you actually receive it. Advance payments are sometimes required by sellers as protection against non-payment