Bonds

bonds

A bond is a guarantee executed under seal whereby the person or persons contracting bind themselves to pay to some other person or body a specified sum of money referred to as the penalty of the bond, if any of the conditions are not performed. A bond is seen as a certificate of character, ability and financial worth of the principal.These are:-

  1. Custom bond:This is usually in favour of Revenue Authorities (KRA).
  2. Immigration bond:This is for work/entry permits and we have other bonds in favour of principals under commercial agreements like constructions and supply contracts.