(Insurance Surety Bond)

*What is an Insurance Binder?

An Insurance Binder is a legal agreement issued by either an agent or an insurer to provide temporary evidence of insurance until a policy can be issued. Binders contain definite time limits, should be in writing, and clearly designate the insurer with which the risk is bound until the actual policy is issued.

*How does the Hagens Co bond work?

Hagens Co  Insurance provide the client with an insurance Surety Bond, upon acceptance of the clients loan approval letter from lender, which provides the necessary security for the Lender to issue the loan that is required to execute their project plans in full.

Hagens Co are able to introduce the client to a lender who will accept the Hagens Co surety bond as security for the loan to the client under very competitive terms.


*Who are Hagens Co?

Hagens Co are one of the most established and integral Insurance Companies in Europe providing Insurance Policies in Security to Private and Public entities.

Hagens Co operate with due consideration to an exacting regulatory and legal framework, which assures sound Financial transactions with the highest standard resulting in "best in class business practice".


*How long does the application process take?

The Insurance Application Process takes approximately 2 days after receipt of the clients application.

The Insurance contract, which is required to be provided to the Loan provider, will be provided to the client within 24 hours.


*What is involved in the Hagens Co Insurance surety bond application process?

Detailed below are the steps that is required in order to process the clients loan application incorporating the Hagens Co Insurance Surety Bond as the Lenders security.

*Client contact Hagens Co
*Client completes Hagens Co Bond application and submit associated project planning & financial documentation
*Client provides to Hagens Co lenders approved loan documents
*Insurer approves insurance application and issues an Insurance Binder in favour of the client
*Client and Insurer are satisfied with discussions
*Client pays insurance wrap premium of 2.3%
*Insurer issues Insurance Surety Bond in favour of the client (delivered by hand courier to lender).
*Lending Company distributes funds to the clients banking co-ordinates.
*Funding Capital/Interest repaid as agreed by both lender and borrower.