We provide the service of issuing guarantee to the beneficiary (employer, owner or creditor) of a project to cover the financial loss arising from the contractor (principal debtor) defaulting on his contractual obligations.

We issue both insurance and bank guarantees on behalf of our clients, directly or through an intermediary. Our footprint is vast; it covers most countries in Africa as well as Australia, USA and the UK. We specialise in creating feasible and more economical alternatives to traditional bank guarantees which are demanded by most employers in foreign markets.

Why Santam Guarantees?

  • Credit rating: Standard & Poor’s (S&P) affirmed Santam’s rating at ‘BB+’; Outlook Stable global scale rating, at ‘zaAA+’ national scale rating and ‘bbb’ stand-alone credit profile.
  • Large capacity: We have a large capacity which means we have the ability to provide our clients with spare capacity to use for unexpected projects and/or very large “last minute” tenders.
  • Due to our strong balance sheet capability and ‘BB+’ rating we are the preferred Eskom and Transnet guarantor for all construction related guarantees.
  • Bank guarantee solutions: We have established strategic partnerships with four major international banks and have the capacity to issue bank paper guarantees.
  • A large African footprint: Our target market over the years has expanded to include emerging markets in Africa as growth rates and international investment in these markets are buoyant and growing. This footprint is made possible through our partnership with SEM. We have successfully issued guarantees into more than 30 countries in Africa.
  • In-house legal capability: Translates into service efficiency, cost effectiveness and the capability to engage with local and international experts to facilitate the issuance of local and foreign guarantees on behalf of our clients.
  • In-house financial consulting expertise: This is through Sanlam Capital Markets, it enables us to provide our clients with world-class financial advisory and support.


Our sound knowledge of local and global surety market, coupled with an ability to constantly adapt our offering in line with market requirements, has enabled us to offer competitive, tailored and world-class guarantee and court bond facilities to our extensive client network.

undefinedDownload brochure

Learn more

The benefits of insuring with us

Santam is the insurer of choice for millions of South Africans countrywide. We help you be safe and stay safe – everywhere you go. If you need four more reasons to choose Insurance good and proper.

Learn more

Our range of products are as follows:

  • Bid bond - covers the employer during the bidding process, and guarantees that the bidder abides by the conditions of the tender.
  • Advance payment guarantee - covers the employer for the prepayment of monies advanced to the contractor, usually to cover cost of capital materials and equipment and to aid cash flow.
  • Performance guarantee - covers the beneficiary against the risk of the contractor not fulfilling his contractual obligations in terms of the contract.
  • Retention Guarantee - replaces monies ordinarily retained by the employer until project completion. Also used to Protect The Employer Against Failure Of The Contractor To Rectify Defects After Project Completion.
  • Payment guarantee - covers the supplier of goods and services against non-payment by the buyer.
  • Materials onsite/off-site guarantee - covers the employer for the value of materials stored either on or offsite by the contractor. Enables payment of these materials before these materials form part of “Work Done”
  • Fuel guarantee - covers a bulk fuel supplier against non-payment by a fuel purchaser. Purchasers can be commercial (distributors, wholesalers, fuel station owners) or retail (airlines, mines, construction and engineering companies, or logistics companies). It serves to ease the financial burden on bulk fuel purchasers to pay for fuel upfront or incur interest expenses by acquiring funding in the banking sector to purchase fuel.
  • Utility bonds and guarantees
    • Utility payment bond - covers the principal for the deposit or payment of monthly accounts on an electricity or water account that is, should a company fail to pay their bill, Santam will pay the utility provider.
    • Utility performance bond - covers a state owned utility provider against the risk of the contractor not fulfilling his contractual obligations in terms of the contract.
  • Customs and Excise Bonds - covers businesses involved in import, export, manufacturing, sales or distribution of goods. These bonds guarantee that either taxes or duties or both will be paid by the principal when invoiced by the government. These bonds also ensure that companies comply with all legal and tax acts and requirements related to their business.
  • Court and Administration Bonds - includes both liquidation bonds and deceased estates.

For more information contact:

E surety@santam.co.za
011 912 8478/8354/8123

Court Bonds
T 011 912 8351/8041/8380

Guarantees team

Clinton Spence – Head
E Clinton.Spence@santam.co.za
T 011 912 8123

Kishan Suka – Underwriting Manager
E Kishan.Suka@santam.co.za
T 011 912 8478

Tian Bekker – Legal Advisor
E Tian.Bekker@santam.co.za
T 011 912 8464

Vanessa Loots – Team Leader Guarantees and Court Bonds
T 011 912 8354

Bonga Somhlahlo – Team Leader Guarantees
E Bonga.Somhlahlo@santam.co.za
T 011 912 8358

Kunal Singh – Senior Underwriter Guarantees
E Kunal.Singh@santam.co.za
T 011 912 8356

Lethabo Molomo – Underwriter Guarantees
E Lethabo.Molomo@santam.co.za
T 011 912 8029

Palesa Sauhatsi – Court Bond Administrator
E palesa.sauhatsi@santam.co.za
T 011 912 8351

Tafadzwa Musekiwa – Junior Underwriter
T 011 912 8052

Busi Ndlovu – Guarantees Administrator
E busi.ndlovu@santam.co.za
T 011 912 8483

Leesha Maharaj – Guarantees Administrator
E leesha.maharaj@santam.co.za
T 011 912 8380

Andile Kuhlase – Guarantees Administrator
T 011 912 8353