Surety in other countries

December 1, 2019 - Surety 101

Hi everybody, Chad Rosenberg from Rosenberg& Parker. I often get questions about international surety and whether countries outside the US require bonds. The fact is the US and Canada are by far the largest surety markets in the world representing well over sixty percent of global premiums but many other regions outside of those countries do require surety. Latin America for example has some very mature and well-established surely markets like Mexico, Panama and Brazil with emerging countries like Argentina and Colombia starting to use more and more bonds. In Asia, South Korea and Singapore are wide users of bonds. Europe is a little bit of an interesting scenario for years and years it was dominated, by bank letters of credit and bank guarantees. But that all started to change in 2008 with the global banking crisis. Suddenly entities started accepting bonds on a wider base and one of the reasons is because the bonds just became cheaper, more competitive than letters of credit. If you have any questions about international surety, please contact us and remember at Rosenberg & Parker our
vision is clear and it’s PURE surety.

Our vision is clear and it’s PURE surety