Throughout Australasia, contractors are often required to arrange security in the form of guarantees or bonds of up to 15% of the contract value. This is a major risk that needs proper management.
Surety bonds are a viable alternative. What are surety bonds you may ask? They are a type of contract that permits principals and contractors to comply with employment requirements without using bank guarantees that dilute available equity. These bonds can be issued in Australia or internationally.
This is a highly specialised area and few brokerages are equipped to help you navigate through its complexities. Fortunately, Emjay Insurance Brokers has the expertise to ensure your business meets the specific pre-qualification criteria required.
How we can help
We can assist your facility with:
- Construction Surety – solutions, project analysis, contract reviews, day-to-day construction bond execution
- Commercial Surety – court appeals, bank depository, landfill closure, workers compensation, rental bonds
- International Surety – advance payments, trade guarantees, construction, additional bank lending capacity