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Contract Bonding Services
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Contract bonds are often required by foreign buyers as a form of financial security that ensures you will honour your contractual obligations. Bonds can either be issued by banks in the form of standby irrevocable letters of credit (ILC) or letters of guarantee, or by surety companies in the form of contract surety bonds.
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Contract Bonding Services
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Performance Security Guarantee (PSG) - 100% guarantee to the bank for a bond posted on your behalf; this frees up the working capital banks need as collateral for posting that bond.
- Surety Bond (re)Insurance (SBI) - Access to surety bonds with EDC providing risk sharing reinsurance capacity to your surety company for up to 100% of the bond liability amount.
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Getting a bank or a surety company to post a bond can be difficult especially if you do not have access to the necessary security or do not meet other underwriting criteria set out by the bank or surety company. EDC Contract Bonding Services can help you get the bond you need and make your export deals happen.
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