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Guaranty (Insurance) Payment

Terms
Bid Bond Agreement Performance(Contract) Bond Agreement Defects(Maintenance & Repair) Bond Agreement Payment Bond Agreement Product Liability Insurance Policy Claim Payment Clause
Guarantee (Insurance) Claim and payment procedure
Guaranteed accidents

Request payment

    Required documents

  • Official document for request
  • - Copy of contract paper
  • - Copy of guaranty letter
  • - Documents proving the occurrence of guaranteed accidents and related materials(Copy of contract termination notice, defect description, etc. )
Report guaranteed accident

Notice of deposit claim to union member

Confirmation of payment

Confirmarion of guaranteed accident & Payment assessment

Claim confirmation and investigation

    Cases where guaranty payment decision is suspended

  • - In case of a legal dispute such as decision of guaranty payment suspension injuction.
  • - If there is a valid new appeal by the state's debt department.
  • - If a cause of re-examination for the payment of other deposits occurs.
Payment

After payment assessment, the payment is sent out [consumer]

    Required documents for receipt of payment

  • - Original documents of guaranty letter
  • - Copy of bankbook where the guaranty will be deposited
  • - Corporate and personal seal stamp on deposit receipt [Form provided by union]
  • - Seal certificate