Period to make a claim

Amir asked this on June 06, 2016 in Contract Bonds

After the expiry of a bond insurance policy,does the beneficiary have the right to claim for damages that occurred during the policy period?


Amber answered this on August 29, 2016


This is dependent on the specific bond. Some bonds' liability extends for a period of years after its cancellation or expiration, while others' liability does not extend past the term of the bond. You would need to read the bond to know for sure. Hope this is helpful!