Solutions for contractual obligations that provides security to a beneficiary and releases your working capital.
Attis Surety Solutions are experts at placing bonds whether it is a one-off requirement, facility or additional capacity we work closely to maximise the support our clients receive from the market.
Insurance bonds (Surety) provide conditional security to protect the beneficiary against default or insolvency of a company, up to the limit value. The use of Surety Solutions can replace Letters of Credit and Bank Guarantees, releasing trapped working capital.
- Performance – a standard requirement within a construction contract, employers typically seek a bond for 10% of the contract value.
- Retention – fast becoming a popular way to avoid the problems associated with retention recovery. Amounts that would otherwise have been held as retention are instead paid and a bond is provided to the employer.
- Advanced Payment –Such a bond provides significant cash flow benefits to the contractor, enable advance payments to be made in advance of work/services being carried out.
- Bid – provides protection to the employer to ensure that if the contractor fails to honour the terms of the bid they will be compensated.
- Section – a guarantee on behalf of a property developer or house builder, to complete the roads and sewers for handover to the appropriate local authority.
- Restoration – often sought for major contracts which effect the environment, to ensure that the landscape is restored following completion on the project.
- HMRC – duty deferment and customs bonds are used by importers to manage the payment of duty on goods and are issued to the benefit of HMRC. Implementing a bond eases cash flow by deferring payment for a given period.
We can also place:
Please contact Susan Coleman (Head of Surety) on 01422 553519 for an independent and unbiased review of your requirements.
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All Steels Trading Ltd
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