Placed£2.6mS38 road bond
74-plot scheme, Yorkshire, 11 days to completions
One insurer has one appetite. We have the whole market.
Bond terms in 24 to 48 hours
Leave your number and a specialist calls you back the same working day.
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Advantage Surety is an independent broker with whole of market surety access, providing onshore and offshore bond solutions for projects in the UK and worldwide.
If your bond has been declined, it probably went to the wrong underwriter.
Advantage has arranged development security since 2014, from structural warranties to road and sewer bonds and performance bonds. Surety is what we were already doing quietly for our biggest clients. Now it has its own team, its own agencies and no house insurer to protect.
That means we read the JCT or NEC clause that triggers the bond, argue the wording with the underwriter, and tell you straight when a bond isn't the right instrument.
14
surety markets on our panel, onshore and offshore
£6bn
of UK construction risk placed by the Advantage group
85 yrs
combined experience across the team
Contractors, developers and the people who fund them.
Main contractors
Performance bonds on tender, retention bonds to release cash, and annual facilities sized to your order book.
Housebuilders & developers
S38 and S104 adoption bonds that keep completions on schedule, plus warranty-related security.
SME & regional builders
First bonds for growing firms, where the accounts need presenting properly to get a yes.
Brokers & intermediaries
Surety placed on referral, your client relationship protected in writing.
Bond needed on a live contract?
Talk to a surety specialist today. No credit search at enquiry stage.
Performance bondsRoad & sewer bondsRetention bondsAdvance payment bondsAnnual facilitiesBid & tender bondsOff-site materials bondsEnvironment Agency bonds
A surety bond is a promise, backed by an insurer.
Three parties, one contract. The bond guarantees the employer gets what the contract promised, without your cash or bank facility being tied up to prove it.
Principal
You
The contractor or developer who owes the obligation under the contract.
Counter-indemnity
Surety
The insurer
Guarantees your obligation will be met, up to the value of the bond.
Bond issued
Beneficiary
Employer or authority
The client, highways authority or water company protected by the bond.
If the principal fails to perform, the beneficiary can call on the bond. The surety pays out, then looks to the principal to repay under the counter-indemnity.
Advantage Surety sits on your side of the table. We choose the surety whose appetite fits, present your case and negotiate the wording before anything is signed.
Every instrument a UK contract is likely to demand.
Performance bondMost requested10% of contract value, on-demand or conditional wording, JCT and NEC forms.Road & sewer bondS38 / S104S38 and S104 adoption security for estate roads and drainage.Retention bondCashflowRelease retention into cashflow instead of leaving it with the employer.Advance payment bondPaymentSecurity against a stage or mobilisation payment made up front.Bid / tender bondPre-awardProof you'll stand by your tender if awarded.Off-site materials bondMaterialsSecurity for materials paid for but not yet on site.Maintenance / defects bondPost-PCCovers the defects liability period after practical completion.NHBC / warranty bondWarrantyWhere a warranty provider requires bonded security.
Declined elsewhere? Running out of time?
Send us the contract and we will take it to the markets that fit.
What will the employer ask for, and what will it cost?
An indication in seconds. Real terms from the market, usually inside 48 hours.
Bond type
£
Typically 10% of the contract value
Typical bond value
£420,000
Indicative cost for a well-supported contractor
Under £4,200 a year
Rates depend on your accounts, the wording and the market. First bonds for younger companies sit higher.
Enquiry to executed bond, usually inside five working days.
One named specialist owns the file start to finish. No handovers, no portal to chase.
Day 0
Send the contract
The bond wording, contract value and last two years' accounts. That's usually enough to start.
Day 1
We shape the submission
We present the risk the way underwriters need to see it, and flag wording that will cost you.
Day 2
Terms from the market
Indications from the markets that fit, with the rate and any conditions explained in plain terms.
Day 3 to 5
Executed bond
Wording agreed, bond sealed and issued to the employer or authority. Renewals handled ahead of expiry.
Bonds placed, schemes kept moving.
Placed£2.6m
Placed£420kPerformance bond
£4.2m school, declined twice elsewhere
Placed£1.1mAnnual facility
£38m turnover regional contractor
Placed£185kRetention bond
Fit-out specialist, cash released at PC
All case studies →Read how they were placed
Wording, markets and timings on real schemes.
Two markets had already declined the performance bond on a £4.2m school scheme. Advantage rewrote the submission, took it to a third underwriter and had terms back the same week.
Built aroundJCT & NEC contractsHighways Act s.38Water Industry Act s.104Onshore & offshore marketsPart of the Advantage groupEstablished 2014
Plain answers on surety.
Can't see your question? Call 0800 0987 934 and you'll speak to a specialist, not a switchboard.
How much does a surety bond cost?
Rates are quoted as a percentage of the bond value per annum, and depend on your accounts, the bond wording and the market. A well-supported contractor typically sees under 1%; a first bond for a young company sits higher. There is no premium charged on an enquiry, and no fee for us shopping it around.
Will a bond use up my bank facility?
No, and that's the point. A bank guarantee is secured against your facility and reduces your borrowing headroom. A surety bond is unsecured capacity from an insurer, so the facility stays available for the build.
My bond was declined. Is that the end of it?
Rarely. A decline usually reflects one underwriter's appetite (sector, contract type, or a soft patch in the accounts), not the market's view. We re-present the submission with the right supporting information to the markets that write that risk.
Can you work with the employer's own bond wording?
Yes, and we'll tell you where it's unusual. On-demand wording, uncapped liability and open-ended expiry all affect who will write it and at what rate. We negotiate wording with underwriters as a matter of course.
Do you work with other brokers?
Frequently. If surety isn't your specialism we'll handle the placement, keep you in the loop and never approach your client for their other lines. That's confirmed in writing before we start.
How quickly can a bond be issued?
Terms in 24 to 48 hours on a straightforward case with accounts to hand, and an executed bond usually inside five working days. We've turned around adoption bonds faster when completions were at stake.
Send us the contract. We'll come back with markets.
- A named specialist replies the same working day
- No credit search at enquiry stage
- Terms in 24 to 48 hours on a clean case
- Commission disclosed on request
Step 1 of 2
Thank you. It's with a specialist.
A named surety specialist will reply the same working day. If your deadline is tight, call 0800 0987 934.