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Surety bonds involve three key parties in a structured relationship:

  • The Principal: Your organisation purchases the surety bond to guarantee quality and completion of contracted work
  • The Obligee: The entity requiring you to provide the bond as security
  • The Surety: Our role as the issuer who financially guarantees your ability to fulfil obligations

If contractual obligations are not met, the obligee can claim payment up to the bond amount. The principal then reimburses the surety for any claimed payments, maintaining the distinction between surety bonds and traditional insurance.

Our extensive range of surety bonds and guarantees includes: