Mercantile can offer advice and arrange cover for a number of other insurances products. Please select the insurance product you are interested in from the list below.
Provides cover in the event of an Insured person sustaining bodily injury whilst abroad, on business or pleasure, resulting solely from accidents caused by external, violent and visible means. Cover can be extended to include Baggage, Money, Repatriation and Personal Liability.
Provides cover for the expenses of defending or prosecuting specified categories of a claim in relation to:
- Employers cover, including employment disputes
- Goods or services contract cover
- Property legal protection including tenancy disputes
- Debt recovery
- Motor vehicle protection
- Tax and VAT
- Other contract related actions
Provides protection against accidental death or injury, disease or theft including third party liability arising out of the ownership of same.
Cover provided as part of an exhibition or conference insurance for irrevocable loss incurred by the organiser or exhibitor as a result of Specified Risks.
Provides cover for individuals for the payment of Medical Expenses as a result of accident or illness.
Protects companies for copyright, trademark or patent infringement claims arising out of the company’s operation. It pays defence costs and any judgements up to the policy limits.
Protects purchasers and mortgagees against defects in the title to property that have come to light during the investigation of title on transfer of a property from one owner to another.
Provided to pay a sum of money up to a chosen limit to secure the release of the insured person following kidnap, extortion, detention or hi-jack.
All Risks cover for an exhibitor whose products are damaged or destroyed by an insured peril whilst being displayed at a public exhibition.
Provides protection in relation to Property/Liability/Theft Risks including the property of customers in the Insured’s custody or control.
A Surety Bond provides compensation for a party when a contract is not performed or the performance is unsatisfactory.
A contractor or principal may negotiate an advance payment with an employer or beneficiary for purchase of raw materials required for the performance of a contract. An advance payment bond may be required to secure this payment against the risk of subsequent default by the contractor or principal.
A performance bond guarantees to pay the direct loss and damage suffered by the employer or beneficiary as a result of a breach of contract by the contractor or principal. This breach of contract will most commonly arise upon the insolvency of the contractor or principal but may also arise under the circumstances where the contractor or principal continues to trade.
When a contractor or principal enters into a contract, it will normally undertake not only to complete the works but also to maintain them for an agreed period of time subsequent to completion. If the contractor or principal defaults on the maintenance obligations, the employer or beneficiary can call upon the bond to fund the cost of remedial works in the event that these are necessary.
A purchaser of goods may require a bond guaranteeing that goods purchased will be delivered. In the event of a default on delivery, the bond is called to pay the direct loss and damage suffered by the purchaser.
A removal bond guarantees that duty will be paid should goods be unaccounted for, following transfer from a ship to a bonded warehouse, or from one bonded warehouse to another.
Contracts often have a provision for the retention of a percentage of money owed by the employer to the contractor or principal, for work undertaken, in case the work subsequently fails to meet specification. The provision of a retention bond allows this money to be released. Retention Bonds are usually for a specified percentage of the contract price.
Goods may be stored in a bonded warehouse and provided they remain in the warehouse duty is not payable. However, should the goods leave the warehouse or be unaccounted for, duty becomes payable and a warehouse bond guarantees that the duty will be paid. Warehouse bonds are commonly required by manufacturers of dutiable goods such as whiskey or tobacco.
Companies may be invited to put in an offer, bit or tender for a particular contract. The potential employer or beneficiary may ask for a guarantee that if the contractor’s offer is accepted, it will undertake the performance of the contract and, if asked, provide a performance bond. If the bidding company’s bid is accepted, but the bidding company defaults and does not undertake the contract, a call is made on the bond. Bid Bonds are usually for a specified percentage of the value of the Bid.
Many companies import goods which are subject to VAT. If a company has a VAT duty deferment guarantee, it can defer payments of VAT or duty until the 15th day of the following month, therefore receiving a cash flow benefit. Otherwise, payment must be made at the time and place of import.
Goods subject to duty which are transported by sea may be transferred from one ship to another. If all the goods are subsequently accounted for, duty is not payable but, if they are not, duty becomes payable. A transhipment bond guarantees that this duty will be paid.
Carnet Bonds arise when goods are taken to a foreign country for a short period, perhaps to be displayed at an exhibition or trade fair. This carnet guarantees that local duty will be paid to the appropriate country if the goods are not returned to Ireland. Carnet de Passage Bonds pay the duty on the vehicle transporting the goods rather than the goods themselves.
Following insolvency, if an auctioneer is appointed to sell or dispose of property by auction or private treaty then he may be directed to give security by means of a bond to an official receiver to secure the proceeds of such sale. The liability of the auctioneer and surety is joint and several and the bond is sealed by the surety.
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