sopimusvakuuksien
Sopimusvakuudet, often translated as contractual security or contract guarantees, are a type of security arrangement used in Finland to ensure that contractual obligations are fulfilled. They are primarily utilized in construction projects and other significant service contracts. The purpose of a sopimusvakuus is to protect the party for whom the service is being performed (the client or principal) from financial losses that may arise if the other party (the contractor or service provider) fails to complete their contractual duties.
There are typically two main types of sopimusvakuudet: performance bonds and warranty bonds. A performance bond
These security arrangements are typically provided by banks or insurance companies in the form of a guarantee.