Prasidium Surety

Surety Bonds are a genuine alternative to bank guarantees.

A surety bond is an unconditional, on-call guarantee from a highly rated financial institution. It can be provided in lieu of cash or a bank guarantee as security for the performance of a contract.

Unlike a bank guarantee, Surety bonds generally don’t require the support of fixed asset security nor do they need to be underpinned by other forms of collateral or cash. This makes them a great option when looking to best manage businesses capital requirements, provide greater liquidity reduce debt or more effectively allocate banking facilities to other areas of the organisation.

Bonds are extremely cost effective. They are able to be tailored to cater for a broad range of applications and are useful for across many industries from construction & engineering/heavy infrastructure to aviation and telecommunications.

MAINTENANCE BONDS

Bonds to secure post-completion obligations during the warranty or latent defects period, commonly up to 12 months following completion.

PERFORMANCE BONDS

A great tool for contractors to manage guarantee requirements during a project. The bond provides security against non-performance of a contract.

ADVANCE PAYMENT BONDS

Major projects can create strain on cash flow. Advanced Payment Bonds provide assurance to the principal/beneficiary in the event of payments made up front to contractors for equipment, supply or site preparation.

WORKERS COMPENSATION BONDS

For corporations qualified as self-insured for their workers compensation programmes, a workers compensation bond or bank fronted guarantee supported by a bond provides the various state authorities with security that their Workers Compensation requirements will be met.

FUEL BONDS

Petroleum Bonds are an effective tool to secure supply chain for downstream fuel providers, namely retail petrol stations.  Bonds can replace other forms of security such as Bank Guarantees or cash held in trust.  They are extremely cost effective and are accepted by all major oil companies.

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