PERSONAL LINES

COMMERCIAL SURETY BONDS

Customs Bonds:

Required by the federal government to guarantee payment of various duties, tariffs and taxes. The most commonly used customs bonds are as follows:

BOND TYPE

PURPOSE

License and Permit Bonds:

Consumer Protection Bond
Collection Agency Bond
Contractor’s License Bond

These bonds are used to qualify those who wish to obtain a licence or a permit to exercise a particular privilege or engage in a particular business.

Licence and permit bonds guarantee compliance with the statute, by law or regulation under which the principal is compelled to act.

The laws are meant to protect the public against incompetence, misrepresentation, fraudulent dealings, physical damage, or bodily harm.

Customs Bonds

Release of Goods Bond
Non-Resident GST Bond
Customs Brokers License Bond
Customs Bonded Warehouse Bond

Required by the federal government to guarantee payment of various duties, tariffs and taxes.

Excise Bonds Fuel Tax Bond

Tobacco Bond
Beneral Excise Bond

Customs and excise bonds are for the benefit of the federal government and guarantee that either taxes or duties or both will be paid by the principal when invoiced by the government.

Estate Bonds

Required by provincial courts from the executor of the estate of a deceased person. The bond guarantees that the executor will comply with the requirements of provincial estate law and the will.

Guardian Bonds

Required from the guardian of a person who is unable to manage their financial affairs, or of a minor. The bond is required by the provincial court or the provincial Public Guardian and Trustee Office.

Lost Instrument Bonds

Issued when an individual or company loses a certificate (stock, debenture, warrant, bond). In order for the issuing agent to issue a replacement certificate, a bond is required.

Carnet Bonds

Allows individuals and companies to temporarily take goods from Canada into foreign countries without paying import taxes.

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