Surety Essentials
In this course surety characteristics, construction bonds and the qualification process will be discussed. From the 3 "C's" to working capital. From bid to performance bonds. From Obligee to Principal will be the areas reviewed.
One Hour CE Approved
British Columbia Saskatchewan Manitoba
Surety Basics
Review contract surety basics, including the three-party bond relationship, principal, obligee, surety, penal sum, bond term, indemnity, prequalification, and why bonds are not insurance policies.
Common Bonds
Review the three most common contract surety bonds: bid bonds, performance bonds, and labour and material payment bonds, including their purpose, timing, penal sums, claims response, and role in Canadian construction projects.
Quailifications
Review contractor qualification in contract surety, including the Three Cs of Capacity, Capital, and Character, financial analysis, work-in-hand/backlog review, bonding lines, and the broker's role in surety submissions.
About the course
Contract surety is different from insurance. Instead of transferring risk, a surety bond guarantees that a contractor will fulfill contractual obligations and reimburse the surety if a claim is paid. This course combines Surety Basics, Common Contract Bonds, and Contractor Qualifications to give brokers a practical understanding of contract surety and the protection it provides to project owners. You'll learn the roles of the principal, obligee, and surety, how bid, performance, and payment bonds work together, and why contractor prequalification is essential. The course also covers the Three Cs—Capacity, Capital, and Character, financial analysis, bonding lines, General Indemnity Agreements, and the broker's role in preparing successful surety submissions.
Meet Your Instructor
For more than four decades, Todd Hochban has worked with Canadian insurance brokers, helping them better understand property and casualty insurance through practical, real-world education. As a seasoned educator, industry speaker, and course developer, he has trained thousands of brokers across Canada, translating complex insurance concepts into clear, actionable learning. Every BrokerBytes course is designed with one goal in mind: to provide practical knowledge that brokers can immediately apply in conversations with clients, underwriting submissions, and claims situations. Rather than focusing on theory alone, these lessons emphasize the issues brokers encounter every day. Whether you're new to the industry or building on years of experience, BrokerBytes delivers concise, focused learning designed for today's busy insurance professional.