Zurich Surety has been at the forefront of the surety bond market for over 65 years. A surety bond is a third party security that an individual or a company will fulfill their obligations. A Zurich surety bond is a security of the obligations (whether contractual, statutory or other) of a Zurich client ,arranged to the benefit of his or her counterparty, granted and backed by a financial institution of substance and repute (Zurich). Hence, this is a tripartite agreement, whereby Zurich, upon request of the client (principal), secures, with a surety bond or a guarantee, the client’s obligations towards the contractor (beneficiary). This is also a risk transfer mechanism: the risk of the beneficiary is transferred to an external party, a professional institution, whose name and standing gives the beneficiary comfort. Thus, trading is facilitated and promoted, as business partners are more willing to enter into transactions so secured.