RBN Insurance Services

05/07/2024

A bidder's bond, or bid bond, is a financial guarantee provided by a bidder on a construction project. It assures the project owner that the bidder will honor their bid and proceed with the contract if selected.

Typically issued by banks or surety companies, the bond ensures fairness in the bidding process and protects the owner from financial loss if the bidder withdraws or fails to fulfill their obligations. If the bidder defaults, the bond can be forfeited, allowing the owner to recover costs or select another bidder.

Get guaranteed protection with Milestone Guaranty.

05/07/2024

These bonds are commonly used in construction and other industries where large projects are undertaken, providing assurance that if the contractor fails to perform, the bond issuer will step in to compensate the obligee up to the bond's face value. This financial security not only protects the project owner from financial losses due to non-performance but also promotes confidence and stability within the contractual relationships involved.

Performance bonds thus play a critical role in fostering trust and accountability in business transactions and major projects.

05/07/2024

A warranty bond is a guaranty for construction projects or services. It ensures that in the event that the contractor fails perform its obligations properly or if problems arise even after the supposed completion of the project, the client remains protected. This gives clients peace of mind that they would not be left with unfinished or faulty work.

Get guaranteed protection with Milestone Guaranty.

05/07/2024

Retention bonds are issued by an insurance company to ensure contractors receive the full payment agreed with their clients. This guarantees the contractors the grant of its total dues while still protecting the client during the remedy phase of the construction projects. These bonds help the continuous cash flow for the contractors assuring further remedies to satisfy the client.

Retention bonds are instrumental in strengthening a harmonious and constructive working relationship between contractors and their clients.

Get guaranteed protection with Milestone Guaranty.

08/06/2024

According to the Philippine Institute of Volcanology and Seismology (PHIVOLCS), Mount Kanlaon erupted, which caused a strong earthquake. The surrounding villages were also warned on ash fall and sulphuric odor that may be harmful to them.

We invite everyone to be mindful of these safety tips, in case of a volcanic eruption.

07/06/2024

05/06/2024

The STAI youth bowlers: Coaches Jose Tan Jr. and Billy Lopue, Tracey Tan, Rheylene Panganiban, Micco Necesario, Sydmond Vista (holding his prize to

03/06/2024

Milestone Guaranty's comprehensive motor vehicle insurance provides coverage to private cars, commercial vehicles, motorcycles, and trucks. We are also a leading issuer of third-party liability (TPL) insurance, as required for motor vehicle registration with the Land Transportation Office (LTO).

Stay protected and get insured today.

03/06/2024

SURETY BONDS are among the TOP products of Milestone Guaranty. We guarantee our clients the needed bonding coverage and the immediate issuance of bonds policies.

These include bonds required for government or private construction projects (i.e., performance bonds, bidders' bonds, warranty bonds, advance payment bonds, etc.), customs bonds, judicial bonds (i.e., bail, replevin, supersedeas/appeal, etc.), and fidelity bonds.