Commercial Bond
Commercial surety bonds are guarantees required by various organizations (courts, government bodies or other entities) to protect against a given financial risk. These bonds are required in various contexts, as an intrinsic condition for obtaining a permit or to guarantee payment of customs duties or other taxes to government authorities.
Licence and Permit Bonds
This type of bond is required in order to obtain a licence or permit, and usually protects the consumer in the event that the principal debtor (merchant) cannot comply with the financial obligations included in the laws and regulations pertaining to its commercial activities.
Customs and Excise Bond
Customs
Customs bonds are required by government authorities to guarantee payment of various customs duties, tariffs and taxes.
Imports and payment of duties.
Warehousing and storage.
Transport of goods.
Excise
The excise bond guarantees that the principal will remit certain excise taxes.
Brewer’s licence.
Wort manufacturer’s licence.
Spirits manufacturer’s licence.
Tobacco manufacturer’s licence.
GST – Non-residents.
Court Bond
There are two main types of court bonds:
Judicial bond
Fiduciary bond
Bankruptcy administrator.
Estate administrator.
Executor.
Foreign executor.
Curatorship.
Tutor and curator.
Document Loss Bond
This type of bond is required to obtain replacement certificates when original documents have been lost.
Shares, dividends.
Guarantees.
Canada Savings Bonds.
Life insurance policies and other financial documents.