A property company may, for example, demand some form of security from its tenants that they can really pay the rent. When a tenant has signed a rental bond, the landlord will receive his or her money even if the tenant should be declared bankrupt during the contracted period. Thanks to this guarantee the landlord can ask the bond provider, i.e. Nordic Guarantee, for three to six months’ rent. Often, it is the landlord who recommends to his or her tenants that they contact us.
If a transport company has undertaken to provide some form of transport, the client can ask for a security for additional costs that may be incurred in the event of having to change to another firm at short notice. This would apply if the original transport company went bankrupt or for some other reason was unable to fulfil the contract. In such cases, a performance bond would be extremely useful.
Here you can read more about guarantees you might need: