Industry specialists
Pro-active approach
Technical assistance and advice
Welcome to Bond Premium Finance
The UK's Surety Bonds Collection Specialists
We specialise in the collection of annual premiums in relation to Surety Bonds, whereby the period covered in this initial premium payment has expired.
We recognise many of our client’s customers do not deal with surety bonds on a day-to-day basis and as such we try to educate, provide information and keep them informed on a pro-active basis.
BENEFITS
Benefits of our collection agency:
- Solely focussed on Surety Bond annual premium renewal payments.
- Pro-active in our approach to remind and provide support to policyholders.
- Technical assistance and advice given to the policyholder on how to discharge the bond.
- Re-insurance solutions where applicable.
- Comprehensive communication to all parties involved.
- Extensive due diligence on all cases prior to pursuing money.
OUR SERVICES
Policy Holders
Despite good intentions, we recognise that policy holders do not always fulfil their obligations within the original contract period stated. In these instances an annual renewal premium is applicable in respect of the ongoing liability for the underwriter. Our role is to work on behalf of underwriters and brokers to pursue and obtain this money on their behalf.
When a fixed annual premium invoice is issued (renewal fee) we have an obligation to deliver for our clients in collecting these premiums as timely as possible.
In cases whereby paying isn’t or hasn’t been forthcoming, we implement a rigid and robust credit collecting policy. Although we try to avoid this where possible, when a contract to pay (CTP) is in place to ensure the monies are secured, we will issue statutory demand notices when applicable.
Rather than waiting for a policy to lapse and to minimise disruption to businesses, we are proactive in issuing reminders to policy holders 12 and 6 months prior to annual premiums becoming due.
Underwriters
We recognise underwriters have finite resources, which they are required to focus on duties such as reviewing proposals, analysing statistical data and providing policy terms / premium advice.
To allow underwriters to focus on these core activities, we offer an outsourced solution that utilises a sophisticated CRM system, automated processes and strict credit control systems to generate invoices and collect these premiums.
Brokers
We understand that a broker’s primary objective is to generate new enquiries and work closely with underwriters to provide the most competitive terms for their policy holders.
We work as a support service for brokers in collecting these fees that are payable to their underwriting policy partners.
Contact
Drop us a line
Please contact us using the form below.
HEAD OFFICE
Bond Premium Finance
63 Saint Mary’s Axe
London
EC3A 8AA
Business hours
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Monday 9am - 5pm
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Tuesday 9am - 5pm
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Wednesday 9am - 5pm
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Thursday 9am - 5pm
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Friday 9am - 5pm
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Saturday Closed
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Sunday Closed