Surety
Contract Surety
In today’s competitive market, ensuring the fulfillment of contractual commitments, and bolstering working capital is imperative, to maximize your business’ credit leveraging.
Contract surety involves a three-party agreement where a surety company guarantees to a project owner that a business will fulfill their obligations according to the terms of a contract. The three parties involved are the beneficiary (obligee), the client (principal), and the surety company (guarantor). If the client fails to meet the terms of the contract, the surety company steps in to ensure completion or compensation to the beneficiary.
Contract surety delivers in-depth industry insight, customized solutions, thorough contract review, credit analysis, risk-transfer and seamless execution of contract bond services on a daily basis.
At PLATFORM, We Know Surety
Access to cash and other credit facilities is becoming more integral in today’s economic climate. Our team actively participates and collaborates with all industry stakeholders, advocating for client interest. Our contract expertise includes the following:
Creative Financing Solutions
Industry Advocacy
Simplified Client-Focused Service
Educating & Advising Capabilities
Leveraging Relationships
Claims Advisory
Navigating the Complex Surety Market
We blend our industry expertise with extensive experience in contract surety to develop tailored surety solutions. As economic risks evolve and underwriting standards heighten, the PLATFORM team is equipped to navigate the complexities of the surety market. Our subject matter expertise maximizes your business’s success through extensive knowledge and practical insights.
We foster growth by exceeding traditional surety underwriting, crafting customized solutions based on your business needs. Prioritizing service delivery, we provide strategic and surety expertise, ensuring you have a broker partner that simplifies and enhances your experience.
Key Coverages to Protect Your Business
Our comprehensive surety solutions are designed to protect your business at every stage. We offer a range of key coverages, including:
Bid & Tender Bonds
Performance & Labour and Material Payment Bonds
Lien Bonds
Release of Holdback Bonds
Advance Payment Bonds
Bond in Lieu of Letters of Credit
Surety Backed Letters of Credit
The PLATFORM Approach to Excellence Starts Here
At PLATFORM, we seamlessly integrate market and placement excellence, analytics and benchmarking, risk quantification and program optimization, and claims advocacy and risk advisory to deliver a comprehensive service offering tailored to your needs.
Market & Placement Excellence
As strategic brokers, we use our industry knowledge and network to deliver tailored solutions. Our commitment to excellence ensures the best coverage at competitive rates and comprehensive risk management strategies.
Analytics & Benchmarking
We use analytics and benchmarking to empower our clients to make informed risk decisions. With data insights, we create tailored risk programs aligning with each organization’s risk tolerance, ensuring optimal coverage.
Risk Quantification & Program Optimization
We use risk quantification and optimization techniques for bespoke, optimized risk and insurance programs. By measuring risk and adjusting coverage, we deliver tailored solutions offering maximum protection and value.
Claims Advocacy & Risk Advisory
Our dedicated team ensures that clients receive the full benefit of their coverage during claims, while our expert risk advisors provide strategic insights to mitigate potential risks. This dual approach enhances protection and supports our clients’ long-term success.