Surety BondsStening Simpson Industry Leaders in Global Surety Solutions. For over 42 years Stening Simpson has been at the forefront of the Surety Industry setting the benchmark.
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.