Bonds/Surety
SGI CANADA provides a full range of Surety products including Contract Bonds, Commercial Surety Bonds and Fidelity Bonds.
Surety vs. Insurance
A bond is a three-party agreement and usually is a guarantee that one party (the Surety) will meet an obligation due to the second party (the obligee) from a third party (the principal) if the third party does not meet the obligation. A bond will always protect the obligee, not the principal.
An insurance policy is a two-party agreement where the insurer agrees to reimburse the insured as a result of a loss by a designated cause.
Types of Bonds
This is a general description of the coverage provided in a SGI CANADA bond. Actual bond wordings will apply. For detailed information and prices contact your local SGI CANADA broker. To locate a broker, use the Broker Locator on the left side of this page.