Bonds & Surety Guarantees
Offering financial reassurance, this arrangement provides a guarantee for parties involved in projects or contracts, ensuring the fulfilment of obligations and meeting contractual requirements.
A bond is a legally-enforceable financial guarantee given by a third-party (the guarantor) to a purchaser (the client). It guarantees the obligations of a supplier of goods, works, or services (the contractor) under a contract.
The guarantor agrees to pay the client a sum of money if the contractor defaults on their obligations. The purpose of a bond is to help the client meet the extra expenses to remedy the default and/or complete the contract.
The Alan Boswell Group Difference
With access to all underwriters in the market, we are able to offer you a full broking service to find the best solution for your needs then help you get started, remaining on hand to provide advice and support throughout the policy period including a full claims management service.
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Types of credit bond
Performance bonds
NHBC bonds
Bid bonds
Retention bonds
Advance payment bonds
Section 38 and 104 bonds
Deposit guarantees (tenants)
Bespoke surety products
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Whether you need a quote, have a general enquiry, want to register a claim, or want to talk it through over the phone, we're here to help.
Related products
Credit insurance protects your business from financial loss incurred through a customer’s non-payment or insolvency.
Offering financial reassurance, this arrangement provides a guarantee for parties involved in projects or contracts, ensuring the fulfilment of obligations and meeting contractual requirements.
Warranty and indemnity insurance will help protect your business sale proceeds and provide cover for defence costs arising from the claim of an inaccurate warranty.
Tailored cover to protect against the risks associated with singular large contracts or debt from major clients.
Cover for a company's entire accounts receivable, providing protection against the risk of non-payment.
Related guides and insights
What is credit insurance and how does it work?
Laurence Hill explains what credit insurance is and how it can protect your business against a range of risks.
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If you’ve been actively considering taking out Trade credit insurance for your business, or you’re a new policyholder harbouring doubts about its value, you’re probably in need of some hard evidence. We speak to Wingate Electrical Plc’s Financial Director John Munro to find out why the company took out credit insurance and how it has helped the business.
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We cover some important invoice payment terms that help inform your clients when and how you expect to be paid.