Whatever your business and surety bond needs, we have the expertise to deliver an effective and flexible service, including comprehensive management of your bonding facilities and experienced professional guidance to fulfil all your surety needs.
Why go through an insurance company rather than a bank?
An insurance company bond enables a company to free up working capital (overdraft facility) whereas a guarantee issued by a bank is a drawing under your credit facilities and may require a charge over cash/assets to the value of the bond or bonds. Unlike bank guarantees, surety bonds issued by an insurance company are almost always conditional, placing the onus on the beneficiary to prove loss in the event of a contract default.
Why choose Aon?
If you need to provide a contractual performance bond or guarantee, Aon will provide you with:
- Access to the whole surety (insurance) market
- An experienced surety team who can secure competitive terms in the market
- Professional facility management so you can outsource your entire surety programme
- Independent advice on different bond types and wordings to best tailor bonds according to your specific needs
- Extensive international expertise, including arranging cross-border surety facilities, particularly in Europe and North America
- Access to the Aon Global Network enabling us to help you with any surety-related topic, anywhere in the world.
What surety services does Aon offer?
Bond facility arrangement
This service is specifically for new clients who need us to arrange bond capacity in the surety market. From an initial discussion with you so we can fully understand your requirements, through to negotiation of your surety programme with underwriters, ensuring the terms and conditions are the most competitive available, Aon’s surety experts offer a complete service.
Bond facility management
A comprehensive service for clients who have existing surety facilities in place and wish to outsource the management of their surety programme. Our service includes a regular review of your facility usage, analysis of relevant underwriting information and financial reports, arrangement of additional capacity when needed, as well as the provision of detailed facility information.
Our dedicated team of administrators will service your day-to-day bond activities. The team provides a single point of entry for your subsidiary or regional operations, processing bond applications, and working with you to ensure timely cancellations to release bond capacity and minimise total bond costs.
Our surety team has the expertise to provide you with detailed advice on all aspects of surety, particularly in relation to PFI, M&As, MBOs, IPOs and joint venture structures.
Last updated 29 May 2012
Aon UK Limited is authorised and regulated by the Financial Conduct Authority. FP5558