Trisura offers a wide variety of bonds often required to satisfy fiduciary obligations, government legislation and regulations, as well as private contractual obligations. At Trisura, we evaluate your client's unique bonding requirements and always try to find a solution using the expertise and innovation of our seasoned staff.
Commercial Surety Products include bonds which respond to federal and/or provincial statutes and regulations. They are usually part of licensing processes and requirements for companies or individuals.
Commercial Surety Bonds protect the consumer against fraud, misrepresentation, and compensation of monetary loss and are typically required by federal and/or provincial courts, government bodies, financial institutions, and private corporations.
Specialized Programs
Trisura also offers the efficiencies required for large and small programs through innovative technology and the expertise in underwriting your clients' specific needs. If you have a client who routinely collects security from a broad customer base, they may benefit from the development of such a program. Speak to your Trisura underwriter for more details.
Trisura's Appetite
At Trisura we underwrite all risks on an account by account basis, taking into consideration the unique risk characteristics of each applicant. We specialize in servicing commercial bond requirements for large publicly traded corporations, in addition to all sizes of privately held companies. Fiduciary risks are underwritten individually taking into account the applicants profile relative to their bonding requirements.
US Exposure
Our appetite is for applicants who work and require bonding primarily in Canada, but may have US bonding requirements incidental to their overall operations. We entertain foreign applicants for certain classes of bonds, such as Non-Resident GST and Foreign Executor bonds. In certain situations, we can entertain bonds for companies with foreign parents.
Bond Classes Available
Carnet
Carnet Bonds are required by the Canadian Chamber of Commerce when merchandise or equipment enters a country with the intention of it being exported to another country within a certain period of time. They are used to avoid having to pay duties or taxes before re-entering the country. Types of Carnet Bonds include:
- Blanket Carnet Bonds
- Single Trip Carnet Bonds
Canada Customs
Customs Bonds guarantee payment of customs duties and compliance with federal and provincial acts and regulations. Activities covered by this type of bond include:
- Bonded Carrier Operations
- Customs Bonded Warehouse
- Customs Broker License
- Customs Sufferance Warehouse
- Duty Free Shops
- Release of Goods
- Temporary Importation
Tax & Excise
Tax & Excise Bonds guarantee payment of excise taxes and guarantee compliance with federal and provincial tax acts and regulations. Types of bonds include:
- Fuel Tax
- Non-Resident GST
- Sales Tax
- Tobacco Tax
Fiduciary
A fiduciary bond is required of administrators, committees, executors, guardians or trustees. Fiduciary Bonds ensure the faithful performance of duties and obligations as outlined and in accordance with relevant laws and court orders. Types of bondsinclude:
- Administration
- Committee
- Executor
- Foreign Executor
- Guardianship
- Trustee in Bankruptcy
License & Permit
License & Permit Bonds guarantee compliance with the terms and conditions of various governmental licensing and permitting bodies. These typically respond when it is in the best interest of the public to ensure compliance. Types of bonds include:
- Collection Agency
- Consumer Protection
- Contractor's License & Permit
- Electrical Contractors
- Grain Dealer
- Highway Transportation
- Motor Vehicle Dealer
- Private Investigators
- Road Cut Bonds
- Other License & Permit Bonds
Lost Instrument / Document
Lost Instrument / Document Bonds are requested when securities, share certificates,life insurance policies, or other financial instruments are lost and need to be reissued. The bond guarantees that the issuer of the replacement security will not suffer any economic loss as a result of a duplicate instrument being issued. Types of bonds include:
- Fixed Penalty
- Open Penalty
- Waiver of Probate
Other Classes
For bond requirements that do not appear on the above lists, please contact your Trisura underwriter.
Minimum Premiums
Premiums for commercial surety bond requirements are charged on a class by class basis. Our minimum premium for individual bonds in most classes is $375.