Companies that operate in a regulated industry or activities such as online payment services, auctioneers and insolvency practitioners may be required to provide a regulatory bond to procure and maintain their licenses to operate. Additionally, companies that don’t have any directors who are residents within the domiciled country may, in some territories, be required to post a bond to cover potential fines for breaches of the relevant company law.

Companies that operate in a regulated industry or activities such as online payment services, auctioneers and insolvency practitioners may be required to provide a regulatory bond to procure and maintain their licenses to operate. Additionally, companies that don’t have any directors who are residents within the domiciled country may, in some territories, be required to post a bond to cover potential fines for breaches of the relevant company law.

The Environment Agency “EA” will often require you to provide them with an EA bond as a legal obligation in order for you to be granted or maintain your relevant licences. These licences could be in relation to but not limited to the handling of hazardous materials, the operation of a landfill site or transporting waste into and out of the UK.

Who are they for? Waste & Recycling companies

Performance bonds guarantee that the Bonded Principal will undertake and fulfil their contractual obligations agreed with the Beneficiary. In the event of contractual default (usually via insolvency of the Principal), the Beneficiary will hold security in the form of the bond which will reimburse and pay out losses and damages up to the maximum bond amount.

Who are they for? Main Contractors, Sub-Contractors, Service Providers.