Surety Bonds

Stening Simpson Industry Leaders in Global Surety Solutions

Benefits of Surety Bonds/Surety Bond Facilities

  • Bonds are widely accepted form of contract security and accepted by the private sector, federal, state and local municipalities.
  • Are flexible and operate alongside traditional banking facilities.
  • Bond Facilities are unsecured (no tangible security or collateral is required).
  • Bond Facilities allows Contractors to free up funds and reduce debt and tender for more contracts without being restricted by security requirements.
  • Bonds are an alternative to bank guarantees.
  • Bond Facilities allows the company greater financial flexibility by allowing the company to leverage of its capital base and therefore utilise assets more cost effectively.
  • There is no upfront or establishment fees or ongoing fees payable, apart from legal documentation costs on establishment of Facility. Premiums on Bonds are only payable on usage.
  • There is quick turnaround in issuing Bonds to meet contract deadlines.
  • Provides the company funding flexibility / options by not having to utilise its banking lines.