06
Nov
Chandigarh: Reliance General Insurance, one of India’s leading private general insurance companies, has introduced a landmark solution: Surety Insurance – Bid Bond. This innovative product is specifically designed to provide contractors with an efficient, cost-effective, and non-collateral-based alternative to the traditional bank guarantee (BG) for project bidding. This launch directly addresses the critical need in India’s infrastructure space for financial alternatives that free up working capital for contractors, thereby fostering greater participation and speed in large-scale projects. ✅ The Capital-Light Advantage The Surety Insurance Bid Bond acts as a risk transfer mechanism and a non-collateral alternative to a bank guarantee. It…