Types of Bonds of Security and Whom to Contact for Procurement

Author : Novarti Insurance Brokers | Published On : 23 Sep 2021

A bond of security is a crucial document that will ensure that you don’t experience fraud and malpractice from another party. Whether you are an individual, part of a company, or government, bonds of security must be a part of your documentation. However, if you have never prepared a bond of security South Africa, might seem like a foreign territory.

But you don’t have to worry! In this article, we will inform you of all the different types of bonds of security. We will also let you know whom you can approach to get the right bond of security for your purpose.

So, let’s start with the types of bonds of security.

Executor Bonds: These are a specific type of bond of security that are required by attorneys, accountants, or administrators of the deceased estate. This type of bond allows the executor of the deceased estate to ensure proper distribution of the assets according to a will (if there is any).

Liquidation Bonds: For this type of bond of security, a liquidator is appointed for insolvent cases by the Master of the High Court. The liquidator is responsible for finding all the remaining assets of the individual, ensuring the legitimate sale, and paying the creditors.

Curator Bonds: These bonds are required by individuals who are incapacitated to take care of their estate. These bonds are also crucial to freeze assets if someone has unlawfully gained them. This is in line with the Prevention of Organised Crime Act.

These are a few of the most common bonds of security that you should know about. Now, let’s move on to whom to contact for getting such a bond of security. To receive such a bond of security, you must contact an insurance broker such as Novarti Insurance Brokers.

Novarti Insurance Brokers is amongst the leading insurance brokers that provide expert services to create a bond of security. They are specialists in providing these services to their clients. Whether you need an executor bond, trustee bond, curator bond, or any other type of bond of security, this insurance company has got you covered.

Novarti Insurance Brokers have the required knowledge, experience and certification to issue different bonds of security to individuals, companies, and governmental organizations. So, contact Novarti Insurance Brokers now to find out more about these bonds and their services.

About Novarti Insurance Brokers:

Novarti Insurance Brokers is a prominent insurance brokerage that is known to provide a bond of security such as a trustee bond and more.

For more information, visit: https://novarti.co.za/

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