Can I Ask You to Cancel a Bond Issued to Guarantee My Obligations?

Generally, no. Unlike indemnity insurance, bonds are tripartite agreements between the Employer, Contractor, and Surety, created for the benefit of the Employer. A bond can only be released or cancelled if the Employer agrees or the bond expires in line with its express terms.

Nationwide Sureties advises clients on the conditions under which a bond may be released and liaises with Employers and Surety Providers to manage any queries or requests efficiently, ensuring clarity and compliance with the bond’s terms.

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