Sometimes the maintenance bond extends to the contractor's or supplier's so-called maintenance or guarantee obligations. If this is not the case, the contract can stipulate that a separate maintenance bond be furnished.
In the maintenance bond, Euler Hermes accepts liability for the compliance with the contractor's or supplier's obligations during the bond period. During this period, the client is responsible for any defects in the product or the proper functioning of the goods supplied or installed.
- The last instalment will be at your disposal earlier