Surety Bondsfor the construction industry

A Specialist in our Field - In today’s fast moving economic environment, the ability to source competitive surety bonds quickly is becoming increasingly important to modern businesses. We are one of the market leaders in broking Surety Bonds and Guarantees, especially for the Construction Industry.

Our dedicated team of experienced consultants operates from

key centres of excellence within the UK. Our approach is simple.

We recognise the importance of working in partnership with our

clients, listening to and understanding their needs to establish

the right lines of surety, which are creative and flexible enough to

meet their business challenges. Our creativity and specialism in

the surety market, coupled with our straight forward no-nonsense

approach, means that we deliver outstanding results for our

clients time and time again.

Surety Bonds for the Construction Industry – What can you expectOur knowledge and understanding of the surety market

is comprehensive.

At Gallagher, our focus is on delivering. Sureties will analyse

information they need about a contractor - including financial

information - and any terms offered will be a reflection of the

perceived risk. It is vital that companies choose a broker who

can guide and support them in order to establish a successful

and healthy business relationship with their surety or sureties so

that work can be tendered for safe in the knowledge that their

bonding requirements can be met and at competitive terms.

We pride ourselves on our technical knowledge, close working

relationships with surety underwriters and our high standards of

quality and performance. Our people are committed to everything

we do for our clients.

Meeting expectations As one of the insurance brokers specialising in the intricate

process of arranging Surety bonds, we offer an efficient,

personal, confidential and professional service.

The main benefits of using the Surety Market: Banks will usually

issue bonds that are payable on demand of a first written

request whereas the Surety Market prefers to issue conditionally

worded bonds where default has been proven (e.g. insolvency)

and damages quantified. Banks also regard bonds that they

issue as part of contractors banking facilities which ties up their

working capital. The Surety Market will look to issue bonds on an

unsecured basis wherever possible.

What construction bonds do we offer:Our knowledge and understanding of the surety market is detailed and wide-ranging.

Performance Bonds:

A guarantee up to the value of a bond, which protects the employer against any loss

and/or damages sustained as a result of the contractor failing to perform his contractual

obligations. Performance Bonds will, typically, have a face value or bond penalty of 10%

of the contract price. If the contractor fails to perform and the bond is “called”, the Surety

company will be asked to pay the net damages sustained up to the bond penalty or

arrange completion of the work in accordance with the contract depending on how the

bond is worded.

Highways Act Road & Sewer Bonds:

Local authorities require by law that companies, typically housing developers, provide a

bond to ensure that the roads and sewers they construct as part of a development are

completed to an acceptable standard in order that they can be “adopted” and maintained

at public expense thereafter. The bond amount usually represents the authority’s estimate

of the total cost of the work.

Other Bonds:

Supply Bonds; Bid Bonds; Advance/Stage Payment Bonds; Adjudication / Arbitration

Bonds; Maintenance Bonds; Retention Bonds; Restoration and Reinstatement Bonds.

Would you Like To Talk?For more information contact:

The Surety TeamT: 0138 4822 222

ajginternational.com

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Arthur J. Gallagher Insurance Brokers Limited is authorised and regulated by the Financial Conduct Authority. Registered Office: Spectrum Building, 7th Floor, 55, Blythswood Street, Glasgow, G2 7AT. Registered in Scotland. Company Number: SC10890 FP385-2018 Exp 14.05.19

About GallagherFounded by Arthur J. Gallagher in Chicago in 1927, Gallagher has grown to be one

of the leading insurance brokerage, risk management, and human capital consultant

companies in the world. With significant reach internationally, our organization

employs over 26,000 people and our global network provides services in more than

150 countries.

Our people partner with businesses across countries and international territories

to provide relevant and impactful professional advice. Regardless of what risk and

human capital challenges our clients have, we work hard and utilize industry specific

expertise to find the best solution and to deliver it with world-class service.

We continue to build on 90 plus years of expertise that spans global industries. No

matter the size of the organization we partner with and the challenges presented by

the industry, we work tirelessly to provide solutions that maximize value for

our clients.

Our values are core to our culture. Passionate service, strategic innovation, and

ethical behavior form the basis of how we do business.

We help businesses go beyond their goals. It’s the Gallagher Way.

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