COMMERCIAL SURETY

Clover Insurance Brokers offers the range of commercial surety our clients need to meet their licensing, regulatory and financial security requirements. Whatever your surety needs, we can help.

License and Permit Bonds

Governments often regulate businesses and activities where misrepresentation, incompetence or fraudulent dealings could create some risk to the public. License and permit bonds guarantee that a business or individual will comply with a statute, by-law or regulation.

Lost Document Bonds

When a valuable document such as a stock or investment certificate, bond or certified cheque is lost, stolen or destroyed, the Issuer usually requires a Lost Document Bond before providing a replacement document. This bond guarantees that the Issuer or transfer agent will be reimbursed by the document's owner if the original is cashed or presented for payment.

Administration, Property Guardianship Bonds

Fiduciary Bonds, which comply with probate and bankruptcy requirements, are required by the courts or the public guardian. These bonds ensure the performance of those appointed to manage the assets of an estate, or to distribute the assets to rightful creditors and/or beneficiaries as required by law or a will.

Administration bonds, which include Administrator/Executor Bonds, Administration with Will Annexed Bonds and Foreign Executor Bonds, guarantee the faithful performance of the administrator or executor's duties under an estate and the faithful accounting for the property entrusted to their care.

Customs and Excise Bonds

Customs and Excise Bonds are required by the Canada Customs and Revenue Agency (CCRA) and guarantee the payment of any duties or taxes, as prescribed by various Acts or Regulations. Customs Bonds allow for the immediate release of imported goods prior to final determination and/or payment of required tariffs, duties and taxes.

Excise Bonds allow businesses to use or ship goods prior to the payment of applicable excise taxes.

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