Who we can help
A closer look at your exposure.
Contractors and businesses requiring contract, commercial or other surety bonds.
A bond is a three-party guarantee involving the principal, obligee and surety. The contract, financial position and ability to perform affect both eligibility and available capacity.
What to discuss with your broker
Bid & tender bonds
Discuss bid requirements early enough to assess the project and arrange any required support.
Performance bonds
Review the obligation to complete the contract and the required bond form.
Labour & material payment bonds
Consider payment obligations to eligible subcontractors and suppliers under the bond wording.
Commercial surety
Discuss licence, permit and other non-construction bond requirements where applicable.
These are areas to consider, not a promise of coverage. Options, exclusions, limits and availability depend on the insurer and your circumstances.
Have a useful first conversation.
If available, have the following information ready. Your broker will tell you what is needed for a formal submission.
- Recent year-end and interim financial statements
- Work-in-progress schedule and project pipeline
- Ownership, banking arrangements and relevant experience
- Contract, tender deadline, bond form and required amounts
A question worth asking
Is a bond the same as an insurance policy?
No. A surety bond guarantees an obligation to another party and can involve indemnity obligations for the principal. Review the bond and indemnity terms with your advisers.