What is a benefit of using corporate sureties compared to personal sureties?

Using corporate sureties offers several advantages, and one of the primary benefits is the ability to provide higher coverage limits compared to personal sureties. Corporate sureties are typically larger and have more significant financial resources at their disposal. This allows them to underwrite bonds for larger projects, which is essential in many industries where project values can be substantial.

Additionally, corporate sureties are regulated and must adhere to strict financial standards, which lends further credibility to the bonds they issue. This regulatory oversight means that they are better equipped to manage risks associated with larger obligations and can therefore offer higher bond amounts, ensuring that the obligations are adequately secured for all parties involved.

While other aspects such as flexibility in requirements, licensing, and premiums might differ between corporate and personal sureties, the capacity for greater coverage is a distinct and significant advantage when businesses or governmental entities require guarantees of performance or financial accountability on a larger scale.