Surety BondsStening Simpson Industry Leaders in Global Surety Solutions
Stening Simpson Surety Bonds make construction more profitable
Global Surety Bond Capabilities
We are pleased to announce that we can now offer Global Surety Bond capabilities into the following countries:
- New Zealand
- Pacific Islands
- United Kingdom
- Hong Kong
In addition, we can also issue bonds into various countries in the EU and states in the US.
If you have a Project overseas that requires a Contract Performance Bond to be issued, whether in a country listed above or any other country, please contact us.
Unprecedented $20m Turnover Surety Bond Facility
Previously in the Australian Surety Market, Underwriters would only consider companies with turnover in excess of $30m (realistically $50m) with net assets of $5m.
We now have available to us, an “A” rated Underwriter who will consider companies with turnover of $20m. This is unprecedented in Australia.
This means that the smaller quality companies and sub-contractors will now be considered for a Surety Bond Facility, providing the same benefits as the larger companies are currently enjoying.
If you meet the following criteria or you know of a company that meets the criteria, do not hesitate to contact us:
• Revenue of at least $20 Million per annum (an average of $20 Million over a 3 year period);
• Must have a minimum net tangible worth of $1 Million;
• Positive cash flow;
• Positive working capital;
• At least 3 years of continuous profitability;
• Operating for at least 5 years.
The Underwriter is also able to provide Bank Fronted Guarantees (within the Surety Bond Facility) should a Surety Bond not be acceptable to a Principal, which allows the Surety Bond Facility to be deployed more efficiently.