BONDING INSURANCE
A specific type of surety bond is often required by an individual or company to satisfy and legally guarantee their respective obligations, be it contractual, judicial, legislative, or fiduciary.
Commercial surety bonds represent a wide spectrum of products and range in the thousands of different types. Commercial surety bonds normally respond to an act/law and can be part of a licensing requirement.
These products can include anything from the legal requirement to obtain a specified licence, administer the will of a deceased party(ies), adhere to government and provincial statutes, provide legal protection to a third-party consumer, or provide financial guarantees to a financial institution.
Commercial Surety is comprised of the following major classes of bonds:
- Customs and Excise (BMC-84 Property Broker Bond, Release of Goods, Carnet, Canadian and US Bonded Highway Carrier Operations, Spirits Licence)
- License and Permit (Consumer Protection, Auto Dealer’s, Employment Agency, Collection Agency, Foreign Recruiter)
- Fiduciary (Estate Trustee, Foreign Executor, Administration, Probate)
- Fidelity Bond (Employee Theft)
- Lost Document (Fixed-penalty, Bank Draft, Certificate, Certified Cheque)
- Various other special commercial bonds
Surety bonds act as a financial guarantee, protecting the Principal(bond holder), consumer or business against fraud, misrepresentation and compensation of monetary loss and are required by the Courts, Federal, Provincial and Municipal bodies, financial institutions and private Corporations.
There are many commercial surety bonds that fall under this category. The bonds that would normally fall under this category are those bonds that are not part of a law/act or licensing requirements.
The most common bonds are:
A.T.A Carnet Bond
Administration Bond
Administrator De Bonis
Administrator Pendente Lite
Administrator With Will Annexed Bond
Agricultural Products Bond
Air Charter Bond
Appeal Bond
Appeal Customs Bond
Auctioneer Bond
Automobile Vehicle Registration Bond
Bailiffs Bond
Bonded Air Carrier
Bonded Freight Forwarder
Bonded Highway Carrier
Carnet Bond
Charitable Promotion Bond
Collection Agency Bond
Committee Bond
Consumer Protection Act Bond
Court Bonds
Customs Bonded Warehouse
Customs Brokers Licence Bond
Customs Sufferance Warehouse Bond
Denatured Alcohol Bond
Direct Sellers Bond
Driver Training School Bond
Duty-Free Shop Bond
Electricity Bill Payment Bond
Employment Agency Bond
Excise Tax Act Bonds
Foreign Executor Bond
Farm Machinery Bond
Fuel Tax Bond
Guardian Bond
Gas Contractor's Bond
General Excise Carrier Bond
Goods & Services Tax Bond
Grain Bond
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Guardian Bond
Health Studio Bond
Highway Traffic Act Bond
Lease Agreement Bond
Livestock Dealers & Products Bond
Load Broker Bond
Lost Instrument Bonds
Lottery Bond
Market Intermediaries In Damage Insurance Bond
Milk Board Bond
Missing Heir Bond
Mortgage Brokers Bond
Nonresident G.S.T. Bond
Notary Bond
Payment Guarantee Bond
Plumber's Bond
Pre-Arrangement Funeral Service Act Bond
Private Investigator & Security
Private Vocational School Bond
Probate Bonds
Real Estate Broker Bonds
Release Of Goods Bond
Replevin Bond
Road Cut Permit Bond
Roofing Contractors Bond
Sand Pit Bond
Securities Act Surety Bond
Sewertappers Bond
Single Trip Customs Bonds
Solid Waste Management Bond
Sub-Division Bond
Temporary Importation Of Articles Bond
Tobacco Sales Tax Bond
Transponder Bond
Travel Agents Bond
Trustee In Bankruptcy Bond
Used Car Dealer Bond
Waiver Of Probate Bond
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Commercial Surety Bonds have proven to be a cost effective method of ensuring compliance with a variety of important laws and regulations. They are essential to an individual or company’s commercial activity.
At Ai Surety Bonding, our commercial specialists have the knowledge and expertise to facilitate all of your commercial surety needs. Utilizing our network of Surety Market partners, we can write and issue any commercial bond(s) quickly and easily and have it delivered to the client next-day.
Our process has been streamlined to make the application and issuance seamless and effortless. We offer immediate Commercial bond issuance and purchase at the time of the call.
Applying For a Commercial Bond? Have Questions or interested in more info?
Contact our surety experts at 1-877-213-4545 or surety@bondsurety.ca
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PHONE: 1-877-213-4545