Maximize the financial advantages and ensure the successful completion of all your projects
Globalex Assurances is your go-to insurer for all your projects. Our team of experts will support you every step of the way through the surety bond implementation process for the successful execution of your projects.
What is a surety bond?
A surety bond is a contractual agreement provided by an insurance company to ensure that all your contracted suppliers fulfill their work obligations according to the terms and conditions specified in the project contract. A surety bond is crucial in project management and contracting. It assures project owners that suppliers will meet project requirements. By reducing non-compliance risk, it offers financial security and boosts contractor credibility. Ultimately, a surety bond is vital for project stability and success.
Surety bond binds three parties:
- The endorser: insurer
- The Beneficiary: your business
- The principal debtor: suppliers or subcontractors
Advantages:
- Accelerate prequalification process of suppliers
- Get a guarantee for your suppliers
- Reduce the need of credit or liquidity (cash)
- Optimize budgets bids
- Guarantee your projects execution
List of available surety bonds:
- RBQ 20K – 40K, Specialized – Entrepreneur
- Entrepreneur Bids
- Entrepreneur Execution
- Car dealership
- OPC Health Studio
- OPC Travel Agent
- SAAQ (License)
- Driving school
- Other Surety bonds
Get in touch with our team to leverage the financial advantages of surety bonds for your projects. To get started on your surety bond insurance quote with Globalex, click below.
