insurance brokers Birmingham, insurance brokers London, risk management insurance brokers Birmingham, insurance brokers London, risk management insurance brokers Birmingham, insurance brokers London, risk management
Birmingham: + 44 (0) 121 452 8450
London: + 44 (0) 207 983 9039
Leominster: + 44 (0) 156 831 3313
Kidderminster: + 44 (0) 1562 215215
insurance brokers Birmingham, insurance brokers London, risk management insurance brokers Birmingham, insurance brokers London, risk management insurance brokers Birmingham, insurance brokers London, risk management
Birmingham: + 44 (0) 121 452 8450
London: + 44 (0) 207 983 9039
Leominster: + 44 (0) 156 831 3313
Kidderminster: + 44 (0) 1562 215215
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Surety Bonds Insurance Solutions

You may be a contractor in the construction sector, an entrepreneur looking to buy a company on a staged payment basis or a tenant trying to negotiate favourable terms with your Landlord. The chances are that you will need to provide some form of guarantee to prove that you will be able to perform, or execute, the contract correctly.

Surety Bonds are cost effective solutions to these issues and can enable you to negotiate favourable contractual terms while not tying up your bank or cash facilities.

At Jobson James, we are experts in finding the right Surety partners for our clients and negotiating preferential terms and lower premiums while, at the same time, often providing wider cover.

What is a Surety Bond?

A Surety Bond provides the back-up guarantee for a contract between two commercial parties. It is often required to help transactions complete and can sometimes be a deal maker.

Surety Bonds are themselves normally tripartite agreements between the two contracting parties and a third party surety that undertakes to pay a sum of money or be responsible for making good the default to the beneficiary of the Surety Bond. When the party being guaranteed fully performs its contractual obligations, the performance bond naturally expires.

Examples of the main forms of Surety Bond Solutions from Jobson James include:

Other Types of Bonds available include:

  • Highways, Road and Sewer Bonds
  • Environment Agency Bonds
  • Customs & Excise Bonds
  • Deferred Consideration Bonds
  • Pension Bonds
  • Bespoke & General Guarantees

Performance Bonds
The requirement for a Performance Bond is commonplace in most commercial contracts, particularly construction. Obtaining Performance Bonds and Guarantees from traditional sources is sometimes difficult, time consuming and frequently ties up working capital. Jobson James understands these problems and makes the issuing of Surety Bonds and Guarantees as simple as possible, without the need to tie up valuable cash resources.
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Retention Bonds
Many contractors and sub-contractors may be unaware of the existence of a Retention Bond. As retentions range between 3% and 5% of the contract sum, a simple Retention Bond could assist greatly with the client’s cash-flow, which could then be put to other beneficial uses.
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Advanced Payment Guarantees
In a wide range of supply contracts, where an advance payment is being made, the client requires an Advance Payment Guarantee. The provision of this Advance Payment Guarantee normally results in the supplier being able to have access to the advance cash whereby the advance cash is made available for purchases for the contract without undue complications.
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Deferred Payment Guarantees
When the whole, or part, of a business is bought or sold, it is common practice that the purchase price is paid by installments or deferred over a period of time. During this extended payment period, the vendor may feel exposed. Jobson James are experienced in the provision of hard to secure Deferred Payment Guarantees, making the negotiation and conclusion of a business sale and purchase agreement faster, less stressful and, most importantly, more secure.
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Supplier Payment Guarantees
Obtaining credit from suppliers is a major problem for small and medium sized companies when economic conditions are challenging. By providing a guarantee to suppliers, Jobson James can provide a simple method ensuring a smooth source of supplies, even when cash- flows are restricted, safeguarding working capital beneficial uses.
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To discuss you own requirements please contact Dean Smith, Associate Director – Trade Credit and Surety on +44 (0) 121 452 8738 or alternatively email him at dean.smith@jobson-james.co.uk