Surety Bond Insurance
An effective alternative to traditional Bank Guarantees.
Commercial insurance
Staff/Recruiting Agent Surety Bond
Transfer risk for a business entity
Overview
About the Policy
A surety bond for recruitment agents is a financial protection as per the directives of MEA to ensure that recruitment agencies comply with the regulations and ethical standards set by the ministry. It serves as a protection for both the candidates and the government, ensuring that the recruitment process is conducted fairly and transparently.
Important details
What the policy covers
Exclusions
- Criminal Fines, and penalties
- War, invasion, act of foreign enemy, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection or military or usurped power, terrorism, act of God, force majeure.
- Ownership and/or conduct of any other business or activities wholly or partially owned/operated or managed except the business as described in the Schedule.
- Any claim for which Insured has been held liable by any courts, tribunals, or any other authority, whether judicial or quasi-judicial, other than the MEA.
Refer to the policy wordings for further details.
Documents
Downloads
Read the sales brochure/policy wording before concluding a sale.
Explore
Related products
Insolvency Liability Risk Insurance Policy
Protects the Insured for potential loss arising from “Insolvency events”.
Professional Liability
Insurance plans to secure professional interests