CHJ Management is an Independent Specialist in Surety.
With over 20 Years of Specialist Surety Experience, we are perfectly positioned to assist Clients of all sizes to obtain a full range of Bonds and Guarantees for projects in the UK and around the world.
We are not a Broker, but a Marketing Company for Surety and we receive Enquiries for Surety from all around the World
As Specialists in this Sector, we pride ourselves on our detailed knowledge and ability to understand our Client’s varied needs irrespective of which Business Sector they operate in.
Specialist Bond Knowledge
Whether you require a one-off Bond or are looking to obtain a new Bond Facility, replace an old Facility or are seeking Additional Facilities we have the Specialist knowledge to help you. Regardless of how complex or simple your needs, we are here to assist.
Surety is still a very untapped niche market and there appears to be only a small amount of knowledge regarding Surety Products. There are large amounts of Business to be transacted – it is purely an Educational Requirement. The Surety Bond Arena can open many new opportunities, whose Clients in turn could benefit from having such a market at their disposal.
Surety Bonds can be referred by various different headings / titles – Performance Guarantees, Rent Guarantees, Retention Bonds, Deferred Payment Guarantees, Advance Payment Guarantees, Bid Bonds, Trade Credit Guarantees, Construction Guarantees, Contract Guarantees, Contract Surety, Completion Guarantees, Duty Deferments, NHBC Bonds to mention just a few.
Wherever there is a Contractual Commercial Agreement between Two Commercial Parties, there is the possibility of providing a Bond / Guarantee to give additional comfort to one or the other of the Parties.
Surety Bonds protect their Acceptors against Contract Default, Insolvency or proven Non-Performance under Contract. Surety Bonds are normally a Tripartite Agreement between the Two Contracting Parties and the Third Party Surety Provider often called the Bondsman, who undertakes to pay a sum of money or be responsible for (makes good) the Default to the Acceptor (Beneficiary). When a Party being guaranteed (Contractor) fully performs his Contractual Obligations, the Performance Bond naturally expires (Practical Completion).
The most common form of Surety Bond
The most common form of Surety Bond is a Conditional Bond, meaning there is a need to prove that the Acceptor (Beneficiary) has suffered a loss. On Demand Bonds are less common, do not require proof of loss and as such are imprudent for the Party being guaranteed (Contractor) in many situations. Surety Bonds can be obtained from Bondsmen & Banks although Banks rarely issue Conditional Bonds. On Demand Performance Bonds will hold 100% Counter Indemnity against the Party being Guaranteed (Contractor), normally as a Charge against Cash held or Credit Lines. Bondsmen or Surety can be more flexible with Counter Indemnity and more reputable Providers will make separate Insurance Arrangements particularly against the Insolvency of a Guaranteed Party.
