By choosing Aon, you can benefit from our specialist surety services and gain access to your own dedicated team of surety professionals. Our services include:

Bond facility arrangement
Bond facility management
Bond administration
Surety consultancy


 

Bond facility arrangement

This service is specifically for new clients who need us to arrange bond capacity in the surety market. We will:

• Discuss your business with you to fully understand your requirements
• Gather relevant financial information from you
• Analyse this information and, where appropriate, arrange a review meeting with you to gain further insight into your business activities
• Collate and submit all relevant underwriting information to the surety market
• Arrange, if necessary, financial review meetings with you and relevant surety companies
• Negotiate surety programmes with underwriters to ensure the terms and conditions of any bond capacity are the most competitive available
• Review any indemnity documents requested by underwriters

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Bond facility management

This comprehensive service is available for clients who have existing surety facilities in place and to companies that wish to outsource the management of their surety programmes. We will:

• Regularly review your facility usage to ensure you have sufficient capacity to meet future bond needs
• Collate and analyse relevant underwriting information, including up to date financial reports, to allow annual renewal of existing bond facilities
• Arrange, where appropriate, underwriting review meetings
• Provide a facility term sheet on renewal of the bond facility, which details the full terms and conditions of the bond facility
• Arrange additional capacity when needed, either through existing sureties or via new alternate surety companies
• Provide you with detailed management information using:
  • Linecard reports, which show, in a uniform manner, all bonds issued by all sureties. This report identifies the profile of how bonds will cancel over coming years and clearly shows what evidence is needed to cancel a specific bond
  • Premium adjustment reports, which clearly identify all bonds that have over-run their original anticipated cancellation date and the cost implication of those over-runs
  • Facility reports, which give detailed information on all bond facilities including the terms, usage and conditions of the facilities

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Bond administration

We have a dedicated team of administrators who service our clients’ day-to-day bond activities. They will:

• Provide a single point of entry for your subsidiary or regional operations
• Advise on bond wordings and indicative costs
• Advise on the terms and conditions attached to each bond
• Process bond applications efficiently
• Engross bond documents and arrange for the appropriate surety to execute them
• Work with you to ensure timely cancellation evidence to release bond capacity and minimise total bond costs
• Calculate additional premiums on bonds that have over-run their original cancellation date

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Surety consultancy

Surety bonds are a very specialised but important product.

Our surety team has the expertise to provide you with detailed advice on all aspects of suretyship, especially in the following areas:

• Mergers and acquisitions
• Management buyout / buy in
• IPOs
• Private finance initiative
• Joint ventures

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We make a point of understanding your business and the surety issues you face. Please contact us to discuss your surety requirements.

Last updated on 11 August 2006