Surety Bonds

Surety Bonds

Surety Bonds exist in all types of industries, in particular construction and engineering, but also in energy, logistics, retail, manufacturing, and travel. In fact, wherever there is a contractual obligation, there is likely to be a level of security required to protect the parties in the event of default, and a bond can provide this security. Bonds can be issued by banks or insurance companies (Sureties). When a bank issues a bond, it will be fully secured, utilising the customers’ working capital facilities and tying up cash reserves. The surety market, however, takes security via a company or group indemnity without impacting the customers’ liquidity. Premiums are also usually very competitive compared to a bank.

Gallagher has one of the largest specialist Surety teams in the UK and Ireland. We pride ourselves on our knowledge of the market, providing effective and innovative solutions to our clients bonding needs. We arrange, manage, and administer surety bond facilities, always looking to add value by saving our clients time and money. We have extensive experience in providing bonds through the Surety insurance market. Surety bonds can improve a company’s working capital and place less pressure on cash flow.