Bonds, surety and financial guarantees are terms that are used almost interchangeably in the language of contracts. Clients often say, I need a bond but are not sure what type or they might not know what exactly is being guaranteed.
Title indemnity insurance is a form of insurance which protects owners and mortgage lenders against financial loss resulting from challenges or defects in the title to real estate. Title insurance is principally a product developed and sold as a result of an alleged comparative deficiency of land records.
We provide Structural or Latent Defects insurance for new homes and commercial builds, this covers the cost of rectifying or repairing structural damage caused by a fault in construction, materials or design of the building.
What We Offer
We provide independent and objective advice that clients can trust. Our credibility in the market relies on this, therefore we believe in always working openly and honestly with the client.
Surety Bonds is Ireland’s only specialist surety & bonds intermediary. We set up the company as many of the banks and insurers moved to reduce their exposure, and we realized that in order to do bonds successfully as a broker, we had to specialise. As surety specialists we represent a large selection of sureties (insurance companies who provide bonds) and the real benefit to the client is that they have access to them all, we help to fit our client and the needs of their principal with the right surety provider.
Frequently Asked Questions
What is a Surety Bond?
A surety bond or surety is a promise to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the obligee against losses resulting from the principal’s failure to meet the obligation
What does a Surety Bond guarantee?
A surety bond, put simply guarantees that a contract will be fulfilled. There are many types of Bond but in general there are three parties involved. It could be a builder guaranteeing a home owner that they will complete a house build (contract bond), or it could be a contractor completing an estate for a county council, and guaranteeing those works (development bond). Other types could be guaranteeing that you will supply a certain amount of goods at a certain price (supply bond) or that you will pay taxes & duties to Revenue, once you have been paid (duty deferment bond).
How do I apply for a bond?
Applying for a Bond through Surety Bonds is quick and easy. Our easy to complete, application document is step 1. and getting together your accounts for preceding years is step 2. If you have been asked for a bond, the project owner may have mentioned certain requirements or bond wording, clarifying these is step 3 – we will need to know the bond wording they require. Once we have these first documents, we present the submission together with some background information on your company to our panel of sureties for terms.
We have a highly experienced surety team ready to provide you with the best advice on bonds, indemnity and warranty
An enthusiastic team of experienced advisers are always here to help.
Our surety specialists ensure you get the optimum result on all your requirements
“Colm and the team at Surety Bonds understand the construction bonding market. They have access to a wide range of underwriting contacts and surety providers that can cater for any surety bonding requirements. The hands on approach and practical advice makes them a pleasure to deal with”.
Séamus Noonan, CFO – Mercury Engineering.
“Working with Surety Bonds has given us great comfort that we have an expert on our side. We would have no hesitation in recommending Colm as he has a deep knowledge of the issues surrounding contracts and on-demand bonds”.
Fergal Buttimer, Managing Director – Buttimer Engineering
“Over the past 3 years Surety Bonds has been successfully assisting JJ Rhatigan & Co. with sourcing Construction Performance Bonds for Construction projects in Ireland and the UK.. We have always found Surety Bonds to be very professional with good relationships with the main providers of these bonds”.
Gerry Kelly, Finance Director – JJ Rhatigan & Company
“I have found Danny & Colm to be extremely professional in all our dealings and more importantly have always achieved the desired results”
David Kearns, Finance Director – Moriarty Civil Engineering Contractors
“We were delighted to have developed a relationship with Surety Bonds in the last couple of years. Bonding in the areas we operate can be complicated and difficult to obtain. Colm and his team understood our needs and has since sourced us capacity with multiple providers. It was a great benefit to our business to partner with the surety expert, Surety Bonds”.
Gerry Fahy, Finance Director – Glan Aqua Ltd
“Surety Bonds have assisted us in doubling our bonding capacity – Colm is particularly knowledgeable of contract requirements and responds professionally and efficiently to any queries raised”.
Willie White, Commercial Director – Walls Construction
“As a civil engineering company with multiple jobs going at any one time, it is important for us that bonding doesn’t hold up our progress. We rely on Colm and his team to be our back up resource and get the paperwork in line for when the work commences. They have made a troublesome process very easy for us.”.
David Walsh, Managing Director – David Walsh Civil Engineering Ltd
“We have been working with Surety Bonds for the past 3 years, the team are professional, efficient and easy to deal with. They have enabled is to secure bonding facilities with a number of providers giving MEIC comfort that we can secure contracts which we have tendered for”.
Gerry Fahy, Finance Director – MEIC Ltd
Helping Irish Businesses Worldwide
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