Surety Bonds

In the current uncertain economic climate, surety bonds are becoming sought after as a risk mitigation tool. Project owners are acutely aware of the risks to their businesses and must be confident that the delivery obligations of contracting parties are secured by a suitable guarantee provided by Surety specialists.

In return, contractors qulifying for a surety bond receive the benefit of freeing up their capital together with improving their capabilites and becoming more competitive.

It is for these reasons that RFIB has developed the expertise to be able to respond to the needs of their clients in structuring bespoke reinsurance solutions of their surety portfolios, leading to enhanced risk management and long term profitability.

Major types of products covered:

  • Contract Bonds:
    • Bid
    • Advance payment
    • Performance
    • Maintenance

 

For example, securing the default of a construction company due to the breach of contractual obligations or default due to insolvency or bankruptcy.

  • Commercial Bonds:
    • Excise
    • Custom
    • Tax
    • License

 

For example, securing the performance of legal or regulatory obligations to State or Local authorities, which Principals are legally obliged to meet.