A bond is a tripartite instrument issued by a third party, usually used to provide a guarantee to one company against another company defaulting on their contractual obligations.
Bonds provide financial protection for the Beneficiary against loss incurred as a result of the Principal failing to discharge damages for breach of contract. Ultimately, the bond is in place for the protection of the Beneficiary, not the Principal.
Surety bonds can be utilised across a wide variety of trade sectors and international markets. Our bonds can provide capital efficient solutions and assist with working capital management, and we can assist with almost any bond, some of which include:
- Performance bonds
- Bid bonds
- Road & sewer (highway bonds)
- Retention bonds
- Advance payment guarantees
- Duty deferment bonds
- Supplier payment guarantees
- Deposit bonds
- Deferred payment guarantees
- Usually required under contract
- Can help release capital on day one
- Working with a broker provides honest open advice and comparison of costs
- A-rated insurer-backed policies as well as unrated products where needed