Commercial Surety Bonds
Travelers Canada has the expertise and deep understanding of the commercial surety market to provide bond insurance solutions that benefit all stakeholders. We have the tools and capabilities to meet domestic and international bonding needs for individuals and businesses across a wide range of industries.
Before entering into a surety agreement, we put our unmatched underwriting expertise to work to ensure a complete understanding of the risk and whether the principal is equipped to honor his or her obligations under the bond. When a principal is qualified, our knowledge of bond characteristics, forms and provisions helps all parties understand the bond terms and how it responds in a variety of circumstances. Together, our knowledge and underwriting expertise ensure your business gets the right protection.
Who are our surety bonds right for?
- Oil & Gas Industry
- Financial Institutions
- Healthcare Industry
- Power and Utilities
- Service Contractors
- Technology Industry
- Telecommunication Industry
- Transportation Industry
- Metals and Mining
Find what coverage fits
Fiduciary bonds comply with probate and bankruptcy needs. They are often handled by lawyers whose clients are required to file security to comply with the courts or the public guardian and trustee. These bonds guarantee compliance with the requirements of law for faithful performance of duties.
These bonds are used to qualify those who wish to obtain a license or a permit to exercise a particular privilege or engage in a particular business. License and permit bonds guarantee compliance with the statute, by law or regulation under which the principal is compelled to act. The laws are meant to protect the public against incompetence, misrepresentation, fraudulent dealings, physical damage, or bodily harm.
Customs and excise bonds are for the benefit of the federal government and guarantee that either taxes or duties or both will be paid by the principal when invoiced by the government. This multi-purpose bond is required for the following activities:
- Customs brokers licensing regulations
- Temporary importation regulations
- Transportation of goods regulations
- Display goods temporary importation regulations
- Customs bonded warehouse regulations
- Customs sufferance warehouse regulations
- Accounting for imported goods and payment of duties
- Duty-free shop regulations
- Other authorities may be accepted
Travelers Canada has the local ability and capacity to issue bonds in the United States. We underwrite bonds required at federal, state, county and municipal levels, and more. Bonds are issued from our Canadian offices using U.S. Travelers affiliated companies. This direct relationship results in the seamless processing of U.S. bonds. Contact us for more information about obtaining U.S. bonds.
The purpose of the lost instrument bond is to ensure that the corporation, shareholders and transfer agents are protected against any claims that may arise as a result of the instrument being replaced. This bond also serves as a guarantee that if the lost instrument is found at a later point in time, it will be returned to the surety writing the bond for proper disposal so future economic loss from this instrument cannot occur.
Are you dealing with an estate that is not court probated and requires a transfer of a stock certificate, investment and/or mutual fund account, bank account or other valuable instrument? Estate matters can be very stressful for an individual who has to distribute the deceased's assets. Travelers Canada offers the waiver of probate bond to an estate representative to help in such a situation.
Is your organization sending out securities of significant value that can potentially be lost in transit? Travelers Canada has the answer for how to insure security shipments efficiently and cost-effectively. We offer a program for single trip shipment coverage. This excess mail insurance product is designed to protect the shipment of securities (up to the purchase coverage limit) by an approved courier in the event of a notice of non-receipt made by the intended addressee. Should a non-receipt notice occur on the couriered security shipment, Travelers Canada would be in a position to provide the mandatory lost instrument bond to replace the lost security.
Whenever a standby letter/s of credit (L/C) is provided by a bank, there may be an opportunity to provide a surety bond in place of the letter of credit:
- paid loss retro programs
- performance obligations
- workers compensation self-insurers' obligations
- security for appeal of a court decision
- international obligations