Surety

A surety bond provides a guarantee that if a contractor is unable to fulfil its financial obligations, the business or individual with whom they are contracted will be reimbursed the amount agreed in the bond.

Sureties are used in various industry sectors, including construction, engineering and logistics.

Zurich offers a wide range of solutions for a diverse network of clients. Our bonds will guarantee cover for any potential losses and damages up to the agreed bond limit.

Our appetite includes strong, financially sound UK and multinational businesses requiring significant surety capacity.

Our range of surety bonds

• Performance bond - employer’s guarantee of a contract’s performance in accordance with its terms and conditions
• Advance payment bond - a guarantee given when money is paid before goods or services are supplied
• Retention bond - a guarantee in place of money that would be held as retention
• Road and sewer bond - ensures the fulfilment of statutory obligations for construction and maintenance of roads and sewers
• Infrastructure bond - guarantees planned infrastructure is completed under The Planning Act 2008
• Deferment guarantee - for HM Revenue and Customs - for the payment of duty and taxes
• Decommissioning bond - financial guarantee to ensure a project developer or operator will complete decommissioning obligations
• Regulatory and licence bond - needed as a condition of obtaining a statutory licence or approval from regulatory bodies
• Local government and pension scheme bond - guarantee of pension scheme obligations
• Legal / fiscal bonds - creates security for the discharge of legal and fiscal liabilities
• Bonds in lieu of pension scheme deductibles - guarantee of deductible obligation under insurance contracts
• Deductible guarantee - guarantee in lieu of compulsory liability insurance products