Surety, Bonds and Guarantees

Introducing Surety, Bonds and Guarantees

A surety, bond or guarantee supports your client's contractual commitments and protects the bond's beneficiary in the event of contract breach, including insolvency.

Why do clients need Surety, Bonds and Guarantees cover?

Bonds and guarantees are there to help provide protection against risks and uncertainties
They benefit the project owner or authority by ensuring protection if the contractual obligations aren't met or the contractor becomes insolvent
Many industries use surety, bonds and guarantees such as brewing and beverages, construction, engineering, importing, outsourcing and waste management

Why choose Aviva's Surety, Bonds and Guarantees cover?

What cover is available?

Performance bonds - this is often put in place before any work starts and it covers the contractor's obligations to complete the works
Retention bonds - purchased by contractors or subcontractors to replace cash retentions, guaranteeing the correction of defects during the defects liability period
Advance payment bonds - protects the money given to the contractor at the start of a project should they default on the agreement
Road and sewer bonds - this is a legal requirement if a developer needs to change a private road or sewer into a public one
Custom and excise guarantees - an agreement to cover debts due to customs duty, import VAT and excise
Environment agency bonds - to secure the fulfillment of environmental restoration and compliance obligations in the event of the operator's default
Deductible guarantees - this can cover the excess that needs to be paid against liability products if the client has chosen a large deductible
Pension guarantee - used where a company has a defined benefit pension scheme and is in deficit

Did you know?

Policyholders can also access a range of legal help and advice through our Aviva Businesslaw website, provided by ARAG UK and powered by Farillio. Your clients can get access to business and legal guides, along with help for everything from branding to tax planning.

Get a quote

To get a quote for Surety, Bonds and Guarantees, please contact your usual underwriter.

Get in touch with your underwriting team

Claims

Your client will be allocated a claims handler, who will support them throughout the entire process, but they’ll also have access to our panel of solicitors working in litigation and claims investigation.

Our defence excellence team will be on hand to help protect your clients against fraudulent claims and also give advice on best practice procedures and legislation that can help companies enhance their risk management strategies.

Explore our claims service