Indemnity Bonds

An indemnity bond is a type of financial guarantee that ensures compensation for any loss or damage incurred by one party due to the failure of another party to fulfill an obligation. These bonds are commonly used in various industries, including construction, finance, and legal matters.

This extension provides a functionality that enables users to create and manage a detailed list of indemnity bonds, either issued for customers or received from vendors. It can be seamlessly integrated with Power Automate to set up notifications for expiration dates, values, and other key details.

This extension will help both accountants as well as business decision makers to manage different types of bonds provided in tenders, as payment guarantees as well as easily manage letters of guarantees provided either by 3rd parties or subcontractors. As this is non industry specific, it may be used by a broad range of Business Central customers throughout the world.