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Surety Bonds

When tendering for major projects you may need to provide third-party protection to customers or employers against breaching your contractual obligations. That’s where we come in.

Bonds are designed to provide independent security to customers against losses or damage suffered as a result of their contractors or suppliers breaching their contractual obligations.

The benefit of experience

Our team members have been writing Surety Bond and guarantee business for more than 15 years and have wide-ranging experience, including in bank risk sharing. This gives us a real depth of market knowledge and a detailed insight into what customers, their customers and employers look for in a Surety product.

The rapid response you need

We understand that a fast decision can be crucial when you’re in commercial talks. With us, you’ll deal direct with key decision-makers who are empowered to make legal, commercial and credit decisions – and will always communicate clearly about what decision they have come to, and why.

We turn around new enquiries quickly and can help with bond wording negotiations with prospective employers.

Market-leading products

We usually work with medium-sized and large organisations in construction and related industries, but we will also consider other types of guarantee, including HMRC requirements and other commercial bonds. Because of our expertise and flexible approach, our team is at the forefront of new product development, particularly in the field of commercial bonds replacing standby letters of credit or sharing risks with banks.

Security your customers can trust

We offer the security you would expect of a division of the QBE Group, one of the world’s leading insurers. QBE UK Limited has a strong balance sheet and is a fully rated entity in its own right; our insurer financial strength ratings are A+ positive (Standard & Poor’s), A+ stable (Fitch Ratings) and A stable (A. M. Best). We also have the ability to issue bonds on QBE Europe NA/NV paper depending upon the specific requirements and jurisdiction of the contractual obligation

Global reach

QBE can issue Surety Bonds in territories including the UK and Ireland, France, United States, Australia and New Zealand. We can also offer support in other jurisdictions for customers with strong financial risk profiles.

Assessing risks

We require at least two years' successful trading history, supported by full annual accounts and details of banking facilities. We will also ask to see management accounts. All bonds and guarantees must be supported by a corporate counter indemnity from your company and/or group.