Henderson Surety Services: Surety Bond Scheme
Who is this business placing solution for?
In conjunction with Henderson Surety Services, we are proud to provide a Surety Bond Scheme for brokers who specialise in markets such as construction, engineering, importing, mining, waste management, brewing and beverages, and outsourcing services.
Those who'll benefit most from the scheme are contractors regularly employed by housing associations, local authorities and city or county councils who, at one time or another, are required to provide a Bond. For construction companies, such a Bond often forms part of the tender process.
Who do I contact?
To find out more please speak with your Aviva Business Development Manager or speak to Henderson Surety Services directly:-
Trevor Jones Managing Director
Direct Tel: 0161 830 1882
Mobile: 07872 379012
Email: [email protected]
Phil Thornhill Director
Direct Tel: 0161 830 1884
Mobile: 07515 992081
Email: [email protected]
What is a Surety Bond?
A Bond is purchased by the contracting party and given in favour of the contract owner or authority. It provides financial protection for the project owner against any loss from a breach of contract or default by the contracting party under the arrangement.
Any party committing to a contractual obligation may require a Bond. For example:
- A building contractor needs to provide a Bond to their employer (beneficiary)
- An importer is required to provide a Bond to HMRC (beneficiary) to support a duty deferment facility
- A manufacturer must provide a Bond to a purchaser (beneficiary) for an advance payment.
Aviva and Henderson Surety Services
Henderson Surety Services are specialists in the Surety Bond market. Their expertise will give you the chance to identify new client opportunities, providing additional revenue streams that weren't previously accessible.
- A proactive service that enables contact with your business development manager as, and when, required
- Provides an alternative to banks, as taking out a Bond with us won't tie up contractors' overdrafts
- Annual facilities can be agreed upon to a certain limit, allowing construction companies to bid for tenders knowing they can place the Bond (subject to us approving the Bond wording)
- Adds value to your proposition to construction clients
- Gains you access to a specialist market via specialist brokers
Why this is important to Club 110
Surety Bonds are not a product many of you will sell on a regular basis. However, for those of you who specialise in the target trade sectors, Bonds will be a significant part of your business needs. As an additional solution to our existing suite of products, it's yet another way to strengthen your relationship with your clients and is easily accessible through your Aviva Business Development Manager.
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