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When arranging a bond through Nationwide Sureties, an upfront premium is payable before the bond can be issued. This is usually either a flat rate, equivalent to a percentage of the bond amount, or, for bonds exceeding 12 months, a per annum rate — depending on the terms offered by the Surety Provider.
In addition to the initial premium, all bonds are typically secured with a Group Corporate Counter Indemnity, also known as an Agreement of Indemnity. Additional securities may sometimes be required, such as Directors’ Personal Guarantees and, in rare cases, a Cash Collateral Deposit.
Nationwide Sureties works closely with clients and Surety Providers to minimise the need for additional securities wherever possible, helping to protect the company’s cash flow while ensuring the bond is fully supported and compliant.
For more information on What Securities May a Surety Provider Require in Support of a Bond? talk to Nationwide Sureties