A list of general requirements needed by Nigerian insurance companies for issuing bonds (guarantees).

1. LIST OF REQUIREMENTS FOR BONDS.
1) Duly completed Proposal form (to be issued by Guarantor)
2) Copy of Certificate of Incorporation
3) Copy of Memorandum and Articles of Association
4) Certified True Copies of CAC Forms CO7 and CO2 (not more than 3 months
from current date)
5) Letter of award of contract
6) Contract Agreement
7) Certified work plan and execution schedule
8) Evidence of similar jobs completed in the past (or Contract discharge
letters)
9) Audited Accounts for the last 3 years
10) Statement of Bank account for the last 6 months
11) Company profile
12) Two (2) recent passport photographs each of two (2) directors
13) Bio-data page of International passports of the two (2) directors above (or
copy of Driver’s license)
14) Counter Indemnity Form completed by at least one (1) director and the
Company Secretary. This should be printed on the company’s official
letterhead paper.
15) Personal Indemnity Forms completed by two (2) directors also showing
statement of their net worths.
16) Original documents relating to Collateral security (or undated cheque
issued for the amount of the bond and in the name of the Guarantor)
17) Tax clearance certificate
18) Utility bill relating to the company’s official address