Surety bonds are an important aspect of successful African energy projects. They protect both private and public parties by ensuring that contracts are completed according to mutually agreed terms.
African Trade Insurance Agency reinsures a variety of surety bonds. We will also offer counter-guarantees for lenders who support sustainable energy projects that benefit ATI member states.
ATI offers reinsurance and counter-guarantees for the following bonds for energy projects in ATI member states:
Benefits of Surety Bonds
In the event that a bond is called and the obligor is unable to perform or reimburse our client, we step in to cover any potential losses. Our support helps to:
When you obtain support for surety bonds or counter-guarantees from ATI, you also benefit from valuable credit information on the contracted firm(s). In the event of limited insurance market capacity, or when the beneficiary has strict requirements for the credit rating of the issuer, we can also issue surety bonds directly to project developers or contractors.
ATI’s reinsurance of surety bonds covers projects in selected member countries. In countries where there is an existing market for bonds and guarantees, ATI prefers not to issue the bonds directly. Instead, we offer capacity to the existing actors.
For surety bond product enquiries, click here