{"uin":"IRDAN132RPSU0083V01202425","name":"Surety Bond Insurance","url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425","insurer":{"slug":"generali-central-insurance","name":"Generali Central Insurance Company Limited","url":"https://indiainsurances.com/insurer/generali-central-insurance"},"line":"general","category":"other-general","category_name":"Other general insurance","irdai_type":null,"kind":"product","status":"active","approved_on":null,"withdrawn_on":null,"summary":"Surety Bond Insurance indemnifies the project owner or developer when the contractor or proposer is unable or fails to fulfil the original contract. It has four mandatory bond options and the maximum bond duration is 120 months or the contract bond period, whichever is lower.","analysis":{"state":"machine","analysed_at":"2026-10-20 03:47:27.515458+00","note":"First pass: one AI reading; every stated fact carries a verbatim quote found in the cited clause, but it has not been reviewed. Check the clause before relying on it."},"facts":[{"key":"plan_variants","label":"Plans and variants","section":"Overview","meaning":"The named plans inside this product (not cover types or payout options). Facts can differ between them.","status":"quote-verified","value":["Bid Bond","Advance Payment Bond","Performance Bond","Retention Money Bond"],"display":"Bid Bond, Advance Payment Bond, Performance Bond and Retention Money Bond","note":null,"quote":"There are 4 options available under this Policy and it is mandatory to opt one of them.\nA. Bid Bond B. Advance Payment Bond C. Performance Bond D. Retention Money Bond","sources":[{"clause":"4","heading":"COVERAGE","page":2,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-4"}],"law":[]},{"key":"policy_term","label":"Policy term","section":"Eligibility","meaning":"How long one policy runs before it ends or must be renewed.","status":"quote-verified","value":"The bond period begins from the date of signing and ends on the expiry date of the Contract Bond. The maximum bond duration is 120 months, including contract, maintenance period and extensions, or the Contract bond duration, whichever is lower.","display":"Begins from signing and ends on expiry; maximum 120 months including contract, maintenance period and extensions, or based on the Contract bond, whichever is lower","note":null,"quote":"The bond period is the Contract bond duration that begins from the date of signing and ends on the expiry date of the Contract Bond. ... The maximum bond duration is 120 months (including contract, maintenance period and extensions) or based on the Contract bond, whichever is lower.","sources":[{"clause":"7.1","heading":"The bond period is the Contract bond duration that begins from the date of signing and","page":7,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-7-1"},{"clause":"7.2","heading":"The maximum bond duration is 120 months (including contract, maintenance period and","page":7,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-7-2-2"}],"law":[]},{"key":"claim_intimation","label":"Claim intimation deadline","section":"Claims","meaning":"How soon you must tell the insurer about a claim or hospitalisation.","status":"quote-verified","value":"The insured must notify the Surety immediately on discovering any event or circumstance that could materially affect completion of the work and could potentially lead to a bond call. Immediate notice, but no later than 15 days, is required for any fact, event or circumstance which can materially change the nature of the risk during the policy.","display":"Immediately on discovery of an event that could lead to a bond call; immediate notice but no later than 15 days for material risk changes","note":null,"quote":"The Insured shall notify the Surety immediately on any discovery of any event or circumstances that could materially affect the completion of the work and could potentially lead to a bond call. ... The Insured shall give immediate notice but no later than 15 days of any fact/event/circumstance which can materially change the nature of the risk during the duration of the Policy and the Surety reserves the right to amend the terms of the Policy in such circumstances.","sources":[{"clause":"11.3","heading":"The Insured shall notify the Surety immediately on any discovery of any event or","page":8,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-11-3"},{"clause":"13.4","heading":"The Insured shall give immediate notice but no later than 15 days of any","page":8,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-13-4"}],"law":[{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 20, 21","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_documents","label":"Claim documents","section":"Claims","meaning":"Documents the insurer asks for when you claim.","status":"quote-verified","value":["all written evidence of the bond call","if applicable, of the insolvency of the Insured","all Evidence of alleged Breach of Contract including Technical Reports and the Correspondence by the Contractor of the Notice of Breach","any other document/s as deemed necessary"],"display":"Written evidence of the bond call, insolvency evidence if applicable, evidence of breach including technical reports and correspondence, and any other documents required","note":null,"quote":"The Surety shall make the claim payment only if the Beneficiary has duly complied with all the terms of the Contract Bond and has sent the Surety all written evidence of the bond call and, if applicable, of the insolvency of the Insured. ... Beneficiary has notified the Surety of such a Breach and Provided all Evidence of alleged Breach of Contract including Technical Reports and the Correspondence by the Contractor of the Notice of Breach have been submitted to the satisfaction of the Surety ... Surety may call for any other document/s as deemed necessary to establish to its satisfaction such a Breach of Contract","sources":[{"clause":"12.1","heading":"Claims","page":8,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-12-1"},{"clause":"4.3","heading":"Beneficiary has notified the Surety of such a Breach and Provided all Evidence of","page":4,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-4-3-2"},{"clause":"4.4","heading":"Surety may call for any other document/s as deemed necessary to establish to its","page":4,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-4-4"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 17","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 23","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_settlement_time","label":"Claim settlement time promised","section":"Claims","meaning":"How quickly the policy says a claim is decided or paid, and from when that is counted (intimation or last document).","status":"quote-verified","value":"The CIS says claim settlement is within 7 days of receipt of the survey report or 22 days from submission of all documents required to assess a claim.","display":"Within 7 days of receipt of survey report or 22 days from submission of all documents required to assess a claim","note":"The policy wording does not print a claim settlement timeline; this is from the Customer Information Sheet.","quote":"Settlement of claim | Within 7 days of receipt of survey report or 22 days from submission of all documents required to assess a claim.","sources":[{"clause":"20","heading":"Any events arising out of, based upon or attributable to change in","page":5,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6044#c-20-2"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 64UM(4) to (6)","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 10","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 15","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 16","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(i), V.3(ii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.4","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 23","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"The Motor Vehicles Act, 1988: Chapter XI, insurance of motor vehicles against third party risks","section":"Section 149","url":"https://indiainsurances.com/law/motor-vehicles-act-1988"}]},{"key":"exclusions_main","label":"Main exclusions","section":"Exclusions","meaning":"What the policy does not pay for, in the policy's own words.","status":"quote-verified","value":["The Original Contract signed between the Insured and the Beneficiary is not established, invalid, cancelled or terminated by either of the parties before the Insured Risks occur.","Intentional, gross negligence, illegal or criminal acts by or between the Beneficiary and Insured.","The Insured or its employees commit fraud, collude, bribe, or use any illegal means to enter the contract.","Any Dispute between the Insured and the Beneficiary.","The Beneficiary and the Insured change or amend or modify the contents of the contract without the prior written consent of the Surety.","General Exclusions such as, war, nuclear, pollution, acts of god, force majeure, administrative, statutory, regulatory or judicial actions caused by reasons other than the Insured.","Any expenses incurred by the Beneficiary for collecting, confirming, and proving that the Insured breached the contract that resulted in claims.","Any legal cost or expenses incurred in the litigation, arbitration, and execution by the Beneficiary to collect, confirm, and prove that the Insured fails to perform the contractual obligation.","Any third party loss not part of the contract.","Any price fluctuation in execution of the project.","Liquidated damages, late fees, fines, fines, and punitive damages, exemplary damages, or any other damages or compensatory damages.","Non-performance or non-fulfilment of the terms and conditions of the contract arising out of or due to delay in obtaining permissions or approvals from any statutory, regulatory, judicial authorities or Beneficiary relating to execution of the Project.","Non-performance or non-fulfilment of the terms and conditions of the contract arising out of or due to delay in payments of outstanding or receivables due to the Insured by the Beneficiary","Any events arising out of, based upon or attributable to change in management, acquisition or change in control of the Beneficiary or the Insured after the Bond is issued and is still in force."],"display":"Key exclusions include invalid or cancelled contract, intentional or criminal acts, fraud or bribery, disputes, unauthorised contract changes, war, nuclear, pollution, acts of god, force majeure, costs of proving breach, legal costs, third-party loss, price fluctuation, liquidated damages, delayed approvals or payments, and change in management or control.","note":null,"quote":"The Original Contract signed between the Insured and the Beneficiary is not established, invalid, cancelled or terminated by either of the parties before the Insured Risks occur. ... Intentional, gross negligence, illegal or criminal acts by or between the Beneficiary and Insured. ... The Insured or its employees commit fraud, collude, bribe, or use any illegal means to enter the contract. ... Any Dispute between the Insured and the Beneficiary. ... The Beneficiary and the Insured change or amend or modify the contents of the contract without the prior written consent of the Surety. ... General Exclusions such as, war, nuclear, pollution, acts of god, force majeure, administrative, statutory, regulatory or judicial actions caused by reasons other than the Insured. ... Any expenses incurred by the Beneficiary for collecting, confirming, and proving that the Insured breached the contract that resulted in claims. ... Any legal cost or expenses incurred in the litigation, arbitration, and execution by the Beneficiary to collect, confirm, and prove that the Insured fails to perform the contractual obligation. ... Any third party loss not part of the contract. ... Any price fluctuation in execution of the project. ... Liquidated damages, late fees, fines, fines, and punitive damages, exemplary damages, or any other damages or compensatory damages. ... Non-performance or non-fulfilment of the terms and conditions of the contract arising out of or due to delay in obtaining permissions or approvals from any statutory, regulatory, judicial authorities or Beneficiary relating to execution of the Project. ... Non-performance or non-fulfilment of the terms and conditions of the contract arising out of or due to delay in payments of outstanding or receivables due to the Insured by the Beneficiary ... Any events arising out of, based upon or attributable to change in management, acquisition or change in control of the Beneficiary or the Insured after the Bond is issued and is still in force.","sources":[{"clause":"5.1","heading":"The Original Contract signed between the Insured and the Beneficiary is not","page":6,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-5-1"},{"clause":"5.2","heading":"Intentional, gross negligence, illegal or criminal acts by or between the","page":6,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-5-2-2"},{"clause":"5.3","heading":"The Insured or its employees commit fraud, collude, bribe, or use any illegal","page":6,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-5-3-2"},{"clause":"5.5","heading":null,"page":6,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-5-5"},{"clause":"5.6","heading":"The Beneficiary and the Insured change or amend or modify the contents of","page":6,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-5-6"},{"clause":"5.7","heading":null,"page":6,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-5-7"},{"clause":"5.8","heading":"Any expenses incurred by the Beneficiary for collecting, confirming, and","page":6,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-5-8"},{"clause":"5.9","heading":"Any legal cost or expenses incurred in the litigation, arbitration, and execution","page":6,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-5-9"},{"clause":"5.10","heading":null,"page":6,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-5-10"},{"clause":"5.11","heading":null,"page":6,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-5-11"},{"clause":"5.12","heading":"Liquidated damages, late fees, fines, fines, and punitive damages, exemplary","page":6,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-5-12"},{"clause":"5.14","heading":"Non-performance or non-fulfilment of the terms and conditions of the contract","page":6,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-5-14"},{"clause":"5.15","heading":"Non-performance or non-fulfilment of the terms and conditions of the contract","page":6,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-5-15"},{"clause":"5.20","heading":null,"page":7,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-5-20"}],"law":[{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 11","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 16","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grievance","label":"Grievance route","section":"Claims","meaning":"Who to complain to first, as stated in the policy, before going to the Insurance Ombudsman.","status":"quote-verified","value":"For grievances, contact the company through its website, toll-free numbers, email, courier to the Grievance Redressal Cell, or any branch. If not satisfied, contact the grievance officer at GCIGRO@generalicentral.com or 7900197777 before approaching the Insurance Ombudsman.","display":"Company website, toll-free numbers, email, courier or branch first; then grievance officer at GCIGRO@generalicentral.com or 7900197777","note":null,"quote":"In case of any grievance the insured person may contact the company through Website: https://generalicentralinsurance.com Toll Free: 1800-220-233 / 1860-500-3333 / 022- 67837800 Email: gcicare@generalicentral.com Courier: Grievance Redressal Cell, Generali Central Insurance Company Limited Lodha I –Think Techno Campus, B Wing –2nd Floor, Pokhran Road –2, Off Eastern Express Highway Behind TCS, Thane West – 400607 Insured person may also approach the grievance cell at any of the company's branches with the details of grievance. lf lnsured person is not satisfied with the redressal of grievance through one of the above methods, insured person may contact the grievance officer at GCIGRO@generalicentral.com or call at: 7900197777","sources":[{"clause":null,"heading":"Grievances","page":10,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-grievances"}],"law":[{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 3","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 4","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 5","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(11)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(42)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 34","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 69","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Insurance Act, 1938","section":"Section 38","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 12","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 19","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 20","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 13","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(5), 5(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(9)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 25","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 26","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 11","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"Review of revision in premium rates under health insurance policies for senior citizens, 2025","section":"Para 3","url":"https://indiainsurances.com/law/irdai-senior-premium-2025"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 13","url":"https://indiainsurances.com/law/ombudsman-rules-2017"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 14","url":"https://indiainsurances.com/law/ombudsman-rules-2017"}]},{"key":"perils","label":"What is covered","section":"Cover","meaning":"The events or risks covered.","status":"quote-verified","value":["Insolvency of the Insured","Non-fulfilment, non-performance of obligations or breach of terms and conditions stipulated in the Original Contract by the Contractor","Withdraws its Bid, without the consent of the Beneficiary, during the period of the Bid validity","fails, delays, or refuses to execute the contract","the Contractor shall fail to apply the Advance Payment in the execution of the Works","Breach of the Conditions of the Contract","Contractor failing to fulfil any of the terms and conditions of the said Contract"],"display":"Insolvency, non-fulfilment or breach of the original contract, bid withdrawal or failure to execute, failure to apply advance payment, performance breach, and retention-money failure to fulfil contract terms","note":null,"quote":"Insolvency of the Insured – the Contractor shall be deemed to be insolvent for the purpose of this Policy when ... Non-fulfilment, non-performance of obligations or breach of terms and conditions stipulated in the Original Contract by the Contractor and limited to the value and type of Bond issued and mentioned in the Policy Schedule ... Withdraws its Bid, without the consent of the Beneficiary, during the period of the Bid validity ... fails, delays, or refuses to execute the contract ... the Contractor shall fail to apply the Advance Payment in the execution of the Works ... Breach of the Conditions of the Contract ... In the event of the Contractor failing to fulfil any of the terms and conditions of the said Contract","sources":[{"clause":"3.1","heading":"Insolvency of the Insured – the Contractor shall be deemed to be insolvent for the","page":1,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-3-1"},{"clause":"3.2","heading":null,"page":2,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-3-2"},{"clause":"1.1","heading":"Withdraws its Bid, without the consent of the Beneficiary, during the period of the Bid","page":2,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-1-1"},{"clause":"1.2","heading":"Upon having been notified of the acceptance of its Bid by the Beneficiary during the Bid","page":2,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-1-2-2"},{"clause":"1","heading":"The Surety subject to the provisions of this Advance Payment Bond guarantees to the","page":3,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-1-3"},{"clause":"4.1","heading":"Contractor receives a Notice from the Beneficiary arising out of or due to the Breach","page":4,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-4-1"},{"clause":"3","heading":"The Surety has requested the Beneficiary and the Beneficiary has agreed to accept an","page":5,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-3-5"}],"law":[]},{"key":"deductible","label":"Deductible or excess","section":"Limits and co-pay","meaning":"Amount of each claim you bear.","status":"not-stated","value":null,"display":null,"note":"The policy wording does not state a deductible or excess. The CIS shows Loss Participation as <<INR XX>> and gives only an illustration with 5% of the claim amount, applicable on each and every claim.","quote":null,"sources":[],"law":[]},{"key":"cancellation_refund","label":"Cancellation by you","section":"Renewal and rights","meaning":"What you get back if you cancel during the year.","status":"quote-verified","value":"The insured can cancel the insurance cover at any time during the policy period by written notice. If no claim has been made up to the cancellation request date, proportionate premium is refunded for the unexpired period, both for policy periods up to one year and more than one year.","display":"Cancel any time by written notice; if no claim has been made, proportionate premium is refunded for the unexpired period","note":null,"quote":"The Insured can cancel the insurance cover at any time during the Policy Period by serving a written notice to the Company, with or without citing the cause/reason.\nRefund of premium will apply in the following manner:\n1. If the Policy Period is upto one (1) year and no claim has been made till the date of cancellation request, Proportionate premium will be refunded for the unexpired period.\n2. If the Policy Period is more than one (1) year and no claim has been made till the date of cancellation request, the Proportionate premium will be refunded for the unexpired period.","sources":[{"clause":"14.1","heading":"Cancellation","page":9,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-14-1"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 64VB","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 8","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 6","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 17","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(3) to 20(5)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, IV.4","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, IV.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"territory","label":"Where it covers","section":"Overview","meaning":"Geographic area of cover: India only, worldwide, or listed countries. 'As stated in the schedule' is not an answer.","status":"not-stated","value":null,"display":null,"note":"The wording refers to India-registered contractors' works in territory as specified in the Schedule, and says no claim is payable unless the cause of action arises in India or in the territory specified in the schedule. The schedule territory itself is not printed in these documents.","quote":null,"sources":[],"law":[]},{"key":"subject_covered","label":"What is insured","section":"Cover","meaning":"The thing or risk this policy covers.","status":"quote-verified","value":"The policy covers the beneficiary or project owner/developer against the insured contractor/proposer's inability or failure to fulfil the terms and conditions within the agreed period under the original contract.","display":"Beneficiary indemnified for the insured's inability or failure to fulfil the original contract within the agreed period","note":null,"quote":"the Surety hereby indemnifies the Project Owner/Developer (hereinafter referred to as 'the Beneficiary') from the Insured's inability or failure to fulfil the terms and conditions within the agreed period (hereinafter referred to as `Insured Risks') as set out under the original Contract between the Insured and the Beneficiary.","sources":[{"clause":"2","heading":"OPERATIVE CLAUSE","page":1,"url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047#c-2"}],"law":[]}],"documents":[{"kind":"wording","label":"Surety Bond Insurance Policy Wordings","pages":11,"fetched_at":"2026-10-17 19:44:20+00","source_url":"https://www.generalicentralinsurance.com/downloads/other-insurance/surety-bond-insurance/policy-wording/surety-bond-insurance-retail-policy-wordings.pdf","url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6047"},{"kind":"prospectus","label":"Surety Bond Insurance Prospectus Form","pages":5,"fetched_at":"2026-10-17 19:41:04+00","source_url":"https://www.generalicentralinsurance.com/downloads/other-insurance/surety-bond-insurance/prospectus-forms/surety-bond-insurance-prospectus.pdf","url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6042"},{"kind":"cis","label":"Surety Bond Insurance Customer Information Sheet","pages":6,"fetched_at":"2026-10-17 19:41:05+00","source_url":"https://www.generalicentralinsurance.com/downloads/other-insurance/surety-bond-insurance/customer-information-sheet/surety-bond-insurance-retail-cis.pdf","url":"https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425/document/6044"}],"versions":[],"where_to_buy":[{"purpose":"buy","kind":"insurer","name":"Generali Central Insurance official website","url":"https://www.generalicentralinsurance.com/","note":"Buy directly from the insurer."},{"purpose":"buy","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."}],"claims_and_complaints":[{"purpose":"claim","kind":"insurer","name":"Motor claim process","url":"https://www.generalicentralinsurance.com/motor-insurance/motor-claim-process","note":null},{"purpose":"claim","kind":"insurer","name":"Other claim process","url":"https://www.generalicentralinsurance.com/other-claim-process","note":null},{"purpose":"claim","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."},{"purpose":"grievance","kind":"insurer","name":"Grievance redressal","url":"https://www.generalicentralinsurance.com/customer-service/grievance-redressal","note":null},{"purpose":"grievance","kind":"official","name":"Bima Bharosa (IRDAI grievance portal)","url":"https://bimabharosa.irdai.gov.in/","note":"Register and track a complaint against any insurer with IRDAI. Complain to the insurer first; escalate here if the reply is late or unsatisfactory."},{"purpose":"grievance","kind":"official","name":"e-Daakhil (consumer commission e-filing)","url":"https://edaakhil.nic.in/","note":"Not reachable from our crawler on 2026-10-19; use e-Jagriti if this link does not open."},{"purpose":"grievance","kind":"official","name":"e-Jagriti (consumer commission filing)","url":"https://e-jagriti.gov.in/","note":"Ministry of Consumer Affairs platform for consumer commission cases, a route for insurance disputes that the Ombudsman does not settle."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Ahmedabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Gujarat, Dadra & Nagar Haveli, Daman and Diu. Email: oio.ahmedabad@cioins.co.in. Phone: 079 - 25501201/02. Address: Office of the Insurance Ombudsman, Jeevan Prakash Building, 6th floor, Tilak Marg, Relief Road, AHMEDABAD – 380 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bengaluru","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Karnataka. Email: oio.bengaluru@cioins.co.in. Phone: 080 - 26652048 / 26652049. Address: Office of the Insurance Ombudsman, Jeevan Soudha Building,PID No. 57-27-N-19 Ground Floor, 19/19, 24th Main Road, JP Nagar, Ist Phase, Bengaluru – 560 078."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhopal","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Madhya Pradesh, Chhattisgarh. Email: oio.bhopal@cioins.co.in. Phone: 0755 - 2769201 / 2769202 / 2769203. Address: Office of the Insurance Ombudsman, 1st floor,\"Jeevan Shikha\", 60-B,Hoshangabad Road, Opp. Gayatri Mandir,Arera Hills Bhopal – 462 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhubaneswar","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Odisha. Email: oio.bhubaneswar@cioins.co.in. Phone: 0674 - 2596461 /2596455/2596429/2596003. Address: Office of the Insurance Ombudsman, 62, Forest park, Bhubaneswar – 751 009."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chandigarh","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Punjab, Haryana (excluding Gurugram, Faridabad, Sonepat and Bahadurgarh), Himachal Pradesh, Union Territories of Jammu & Kashmir,Ladakh & Chandigarh. Email: oio.chandigarh@cioins.co.in. Phone: 0172-2706468. Address: Office Of The Insurance Ombudsman, Jeevan Deep Building SCO 20-27, Ground Floor Sector- 17 A, Chandigarh – 160 017."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chennai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Tamil Nadu, PuducherryTown and Karaikal (which are part of Puducherry). Email: oio.chennai@cioins.co.in. Phone: 044 - 24333668 / 24333678. Address: Office of the Insurance Ombudsman, Fatima Akhtar Court, 4th Floor, 453, Anna Salai, Teynampet, CHENNAI – 600 018."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Delhi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Delhi & following Districts of Haryana - Gurugram, Faridabad, Sonepat & Bahadurgarh. Email: oio.delhi@cioins.co.in. Phone: 011 - 46013992/23213504/23232481. Address: Office of the Insurance Ombudsman, 2/2 A, Universal Insurance Building, Asaf Ali Road, New Delhi – 110 002."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Guwahati","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Assam, Meghalaya, Manipur, Mizoram, Arunachal Pradesh, Nagaland and Tripura. Email: oio.guwahati@cioins.co.in. Phone: 0361 - 2632204 / 2602205 / 2631307. Address: Office of the Insurance Ombudsman, Jeevan Nivesh, 5th Floor, Near Pan Bazar , S.S. Road, Guwahati – 781001(ASSAM)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Hyderabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Andhra Pradesh, Telangana, Yanam and part of Union Territory of Puducherry. Email: oio.hyderabad@cioins.co.in. Phone: 040 - 23312122 / 23376991 / 23376599 / 23328709 / 23325325. Address: Office of the Insurance Ombudsman, 6-2-46, 1st floor, \"Moin Court\", Lane Opp.Hyundai Showroom , A. C. Guards, Lakdi-Ka-Pool, Hyderabad - 500 004."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Jaipur","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Rajasthan. Email: oio.jaipur@cioins.co.in. Phone: 0141- 2740363. Address: Office of the Insurance Ombudsman, Jeevan Nidhi – II Bldg., Gr. Floor, Bhawani Singh Marg, Jaipur - 302 005."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kochi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Kerala, Lakshadweep, Mahe-a part of Union Territory of Puducherry. Email: oio.ernakulam@cioins.co.in. Phone: 0484 - 2358759. Address: Office of the Insurance Ombudsman, 10th Floor, Jeevan Prakash,LIC Building, Opp to Maharaja's College Ground,M.G.Road, Kochi - 682 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kolkata","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: West Bengal, Sikkim, Andaman & Nicobar Islands. Email: oio.kolkata@cioins.co.in. Phone: 033 - 22124339 / 22124341. Address: Office of the Insurance Ombudsman, Hindustan Bldg. Annexe, 7th Floor, 4, C.R. Avenue, KOLKATA - 700 072."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Lucknow","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Districts of Uttar Pradesh : Lalitpur, Jhansi, Mahoba, Hamirpur, Banda, Chitrakoot, Allahabad, Mirzapur, Sonbhabdra, Fatehpur, Pratapgarh, Jaunpur,Varanasi, Gazipur, Jalaun, Kanpur, Lucknow, Unnao, Sitapur, Lakhimpur, Bahraich, Barabanki, Raebareli, Sravasti, Gonda, Faizabad, Amethi, Kaushambi, Balrampur, Basti, Ambedkarnagar, Sultanpur, Maharajgang, Santkabirnagar, Azamgarh, Kushinagar, Gorkhpur, Deoria, Mau, Ghazipur, Chandauli, Ballia, Sidharathnagar. Email: oio.lucknow@cioins.co.in. Phone: 0522 - 4002082 / 3500613. Address: Office of the Insurance Ombudsman, 6th Floor, Jeevan Bhawan, Phase-II, Nawal Kishore Road, Hazratganj, Lucknow - 226 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Mumbai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: List of wards under Mumbai Metropolitan Region excluding wards in Mumbai – i.e M/E, M/W, N , S and T covered under Office of Insurance Ombudsman Thane and excluding areas of Navi Mumbai. Email: oio.mumbai@cioins.co.in. Phone: 022 - 69038800/27/29/31/32/33. Address: Office of the Insurance Ombudsman, 3rd Floor, Jeevan Seva Annexe, S. V. Road, Santacruz (W), Mumbai - 400 054."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Noida","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Uttarakhand and the following Districts of Uttar Pradesh: Agra, Aligarh, Bagpat, Bareilly, Bijnor, Budaun, Bulandshehar, Etah, Kannauj, Mainpuri, Mathura, Meerut, Moradabad, Muzaffarnagar, Oraiyya, Pilibhit, Etawah, Farrukhabad, Firozbad, Gautam Buddh nagar, Ghaziabad, Hardoi, Shahjahanpur, Hapur, Shamli, Rampur, Kashganj, Sambhal, Amroha, Hathras, Kanshiramnagar, Saharanpur. Email: oio.noida@cioins.co.in. Phone: 0120-4027589. Address: Office of the Insurance Ombudsman, Bhagwan Sahai Palace 4th Floor, Main Road, Naya Bans, Sector 15, Distt: Gautam Buddh Nagar, U.P-201301."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: offices and jurisdiction","url":"https://www.cioins.co.in/Ombudsman","note":"Addresses, phone numbers, e-mail and the states or districts each Ombudsman office covers."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Patna","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Bihar, Jharkhand. Email: oio.patna@cioins.co.in. Phone: 0612-2547068. Address: Office of the Insurance Ombudsman, 2nd Floor, Lalit Bhawan, Bailey Road, Patna 800 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Pune","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Goa and State of Maharashtra excluding areas of Navi Mumbai, Thane district,Palghar District, Raigad district & Mumbai Metropolitan Region. Email: oio.pune@cioins.co.in. Phone: 020-24471175. Address: Office of the Insurance Ombudsman, Jeevan Darshan Bldg., 3rd Floor, C.T.S. No.s. 195 to 198, N.C. Kelkar Road, Narayan Peth, Pune – 411 030."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: register a complaint online","url":"https://cioins.co.in/Complaint/Online","note":"Council for Insurance Ombudsmen. Free. For disputes with an insurer after its own grievance process; the office is chosen by where you live (see the offices list)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Thane","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Area of Navi Mumbai, Thane District, Raigad District, Palghar District and wards of Mumbai , M/East, M/West, N, S and T. Email: oio.thane@cioins.co.in. Phone: 022-20812868/69. Address: Office of the Insurance Ombudsman, Jeevan Chintamani Building, 2nd Floor,Near New RTO Office, Louis Wadi,Vasantrao Naik Mahamarg, Thane (West)- 400604."},{"purpose":"grievance","kind":"official","name":"National Consumer Helpline","url":"https://consumerhelpline.gov.in/public/","note":"Government consumer helpline; can take up a complaint before you go to a consumer commission."},{"purpose":"port","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."},{"purpose":"renew","kind":"insurer","name":"Renewals","url":"https://www.generalicentralinsurance.com/renewals","note":null}],"notice":"Information, not advice. IndiaInsurances is not an insurer or an insurance intermediary, does not sell insurance and earns no commission. Policy terms change and your own policy schedule can differ: always confirm with the policy document and the insurer before you buy or claim.","cite_as":"Surety Bond Insurance (UIN IRDAN132RPSU0083V01202425), IndiaInsurances, https://indiainsurances.com/policy/generali-central-insurance/surety-bond-insurance-irdan132rpsu0083v01202425"}