A sub supplier places a lien against the project because they haven't been paid. The major difference is that with letters of guarantee, buyers can demand payment at any time without explanation. Surety bonds are a little different in that the buyer has to prove an exporter hasn't lived up to the contract. Letters of guarantees are commonly used throughout the world. Surety bonds are more common in North America and increasingly popular in Latin America.
Buyers usually demand which type of bond they want used.
This section of our web site has been designed to guide you through this process. We've also developed a brochure , checklist and questionnaire you might find useful. If you still have questions after reading this information, you can consult an expert . We'll answer you directly and then post the answer on the site to help out others with similar concerns.