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What services does Western Surety provide?

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Quick Answer

Western Surety writes surety bonds only for the construction industry in Canada and offers outstanding prequalification services to help contractors achieve high profits, according to its official website. The firm provides protection to private owners and government agencies by using its own assets to back up surety guarantees.

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Full Answer

Established in 1909, Western Surety is one of the biggest surety bond writers for the construction industry in Canada. Western Surety belongs to the top 10 companies in Canada in terms of premium volume, and it also maintains a considerably low claim ratio, explains its website. Western Surety offers prompt services, aiming to provide an initial response in as fast as a single business day. The firm gives importance to the experience, performance, management abilities and character of its clients. It performs a comprehensive prequalification review of an applicant before approving a surety bond.

Western Surety may require collateral, such as certificates of deposit or irrevocable letters of credit, on bonds in cases involving high-risk principals or uncommon obligations. People who want to acquire a surety bond should allow their insurance brokers to contact Western Surety, says its website. Brokers typically have the experience to help applicants obtain surety bonds. Suretyship guarantees performance such as constructing a building according to a contract or complying with a parliament act.

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