Surety is Not Insurance
A Performance Guarantee
So, what is it? A surety gives you the financial security you need to get down to business. When a surety bond is produced, it acts as a performance guarantee against future work. A surety bond is only extended if the surety determines that the party in question has the experience, financial and capital resources necessary to fulfill their obligations. If the insured party is unable to fulfill their end of the deal, the surety can then step in and provide support. Uses and application of surety bonds are unlimited.
Commercial surety products are usually part of licensing processes and requirements for companies or individuals. These bonds protect the consumer against fraud, misrepresentation and compensation of monetary loss.
Commercial surety bonds are typically required by federal and/or provincial courts, government bodies, financial institutions and private corporations.
At Trisura, we are continuously exploring and finding solutions that address your commercial surety needs.
Bids and Tenders
Labour and Material Payment Bonds
Contract surety bonds guarantee that the contractual obligations of a project are fulfilled by the contractor.
Trisura primarily offers contract surety solutions to construction companies, service contractors, suppliers and manufacturers.
Deposit Protection Insurance
New Home Warranty
Development Project Protection Insurance
Developer surety aims to satisfy provincial legislation for residential and commercial developers, providing security throughout each phase of a new project’s lifecycle. It can also eliminate the need for a letter of credit, allowing developers to allocate resources elsewhere.
Trisura’s experienced team offers diverse surety solutions that support a wide variety of developer and project needs.