In a commercial surety transaction, Federated Surety guarantees the obligee (often a provincial or federal governing body) that the principal (a business or individual) will comply with the terms of regulations, governing acts, or by-laws as they relate to certain business activities. Under the bond, Federated Surety provides remedy in cases where the principal fails to comply with such regulations.
Types of commercial surety bonds provided by Federated Surety include:
- Canada Customs and Excise Bonds
- License and Permit Bonds
- Fiduciary Bonds
- Lost Securities Bonds