Insurance Bonds
Diskava . Beta . Kava
Meet tender, contract, immigration and customs obligations without tying up cash.
Imana helps contractors, suppliers, employers, importers, clearing agents and investors compare Immigration, Bid, Performance and Customs Bond quotations from licensed Kenyan insurers.
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Licensed insurers
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What is an insurance bond?
A guarantee issued by an insurer in favour of a named beneficiary, backing an obligation the applicant must fulfil.
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The principal
The individual or business required to provide the bond.
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The beneficiary
The authority, organization or project owner protected by the bond.
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The surety
The insurance company issuing the guarantee.
A bond is not ordinary insurance. If the insurer pays a valid demand, it may recover that amount from the principal or indemnitors. Understand the indemnity, collateral and recovery terms before accepting.
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Bonds we arrange
Immigration Bond
Required when a Kenyan employer, organization or sponsor applies for certain permits or passes for a foreign national. It secures the sponsored person’s immigration obligations.
Relevant to
- Companies employing expatriates
- NGOs and international organizations
- Educational and religious institutions
- Foreign investors and consultants
Documents
- Immigration approval or request
- Sponsor’s registration certificate & KRA PIN
- Foreign national’s passport bio-data page
- Permit or pass details
- Directors’ IDs, proposal & indemnity forms
Amount, format and duration follow the immigration requirement issued for the applicant.
Immigration Bond quote
Bid Bond / Tender Security
Supports a bidder’s commitment during a tender. It protects the procuring entity if a bidder withdraws during the validity period or fails to provide post-award security.
Commonly requested for
- National and county government tenders
- Construction and civil works
- Supply, ICT and installation contracts
- Corporate, NGO and donor-funded procurement
Documents
- Tender document or tender-security pages
- Tender number, entity, amount & closing date
- Required validity period
- Registration certificate & KRA PIN
- Directors’ IDs, proposal & indemnity forms
The tender document sets the amount, wording, issuer and validity. Apply early, a generic bond may not be accepted.
Bid Bond quote
Performance Bond
Requested after a contract is awarded. It supports the contractor’s or supplier’s obligation to perform the contract as agreed. Underwriting is more detailed, insurers review financial capacity, experience and current projects.
May be required for
- Building, road and civil-engineering works
- Supply and installation contracts
- ICT implementation projects
- Maintenance and service contracts
Documents
- Award letter or signed contract & required wording
- Contract value, duration and programme
- Audited or management accounts, bank statements
- Evidence of similar and ongoing projects
- Registration, KRA PIN, directors’ IDs, collateral
Usually a percentage of the contract sum, take the percentage, wording and duration from the award letter or contract.
Performance Bond quote
Customs Bond
Guarantees specified customs obligations to the Kenya Revenue Authority. If an obligation covered by the bond is not met, the surety may be called upon.
Relevant to goods
- Under customs control or in transit
- Held in a bonded warehouse
- Temporarily imported
- Under duty remission or exemption
- Manufactured under customs procedures
Documents
- KRA bond requirement or bond form
- Importer / exporter registration & KRA PIN
- Customs agent, entry and shipment details
- Port, border point or customs station
- Directors’ IDs, proposal & indemnity forms
The bond form and amount depend on the transaction, confirm the KRA requirement first.
Customs Bond quote
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What does a bond cost?
There is no standard price. The quotation depends on:
The premium is not the insurer’s maximum liability, you pay a premium for a much larger guaranteed amount. That is why insurers underwrite and may require indemnities or collateral.
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Why compare through Imana?
Right bond, right wording
We identify the correct category and check wording and validity against the requirement.
Compare licensed insurers
Premiums, indemnity and collateral terms side by side, not just the cheapest price.
Full lifecycle support
Issuance, extensions, amendments, cancellation and discharge.
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How to request a bond
- Select the bond and upload the tender, award letter, immigration or customs document.
- Provide the amount, beneficiary, validity period and your registration documents.
- Compare the quotations, indemnity and collateral terms Imana obtains from insurers.
- Complete the insurer’s documents and payment, the bond is issued after final approval.
Start early. Last-minute requests may not leave time for financial review, document corrections, original signatures or beneficiary-specific wording.
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Frequently asked questions
Is a Bid Bond the same as Tender Security?
The terms are commonly used for the same tender-stage guarantee. The procuring entity’s document decides the accepted format, amount, validity and issuer.
Can any insurer issue a Bid Bond in Kenya?
The procuring entity may require an insurer authorized or accepted for tender security. Check the tender document and current PPRA information before choosing an issuer.
How long does issuance take?
It depends on the bond type, amount, insurer, documentation and wording. Simple Bid Bonds may move faster than Performance or Customs Bonds, but no time is guaranteed before the insurer reviews the application.
Do I need collateral?
It depends on the applicant, bond type, amount and insurer. An insurer may ask for cash collateral, a counter-indemnity, directors’ guarantees or property security.
What happens if the insurer pays under the bond?
The insurer may recover the amount from the principal or indemnitors under the counter-indemnity. Read these obligations carefully before signing.
Can a bond be extended or cancelled?
An extension is possible if the beneficiary requests it and the insurer approves, apply before expiry. Cancellation may require the original bond, a release letter or proof the obligation has ended.
Can Imana guarantee approval?
No. Imana handles quotation comparison and application support. Approval, pricing, collateral and issuance remain subject to the insurer’s underwriting and the beneficiary’s acceptance.
Free quotation
Request your bond quotation today
Don’t wait for the tender deadline, contract start, permit deadline or customs window to close.
Bond issuance is subject to the insurer’s underwriting, financial assessment, documentation, approved wording and any collateral or indemnity requirements. Submitting a request does not guarantee approval.