Why use Unique Surety as your agent for your next energy bond?

November 11th, 2016

Unique Surety handles every aspect of delivering correctly worded bonds with the limits required at competitive pricing. Our professionals have direct relationships with top-rated surety carriers; their underwriters trust our judgment and appreciate the quality of our submissions. We understand the type of business each surety wants and the information they require to complete a transaction.  That translates into a faster response in obtaining a bond. It also means less time for each of our clients to complete the application process and more time to manage and grow their business.

Unique Surety: Meeting the bonding needs of the dynamic U.S. energy industry

As the U.S. continues to move toward energy independence through the combination of fossil fuels, alternative sources and emerging energy technology, Unique Surety has been very active serving businesses in each of these sectors. We represent several surety carriers with dedicated energy teams and are in position to handle any bonding challenge for clients in this dynamic evolving industry quickly and professionally.

Leveraging bonding experience in fossil fuels.

Unique Surety provides surety bonds for the three major sectors of oil, gas and coal. Upstream, midstream and downstream each has unique bonding requirements.  In exploration and production, bonds are provided for opening, abandonment, reclamation and more. We focus on providing clients with generous bond limits at a competitive rate and reduced or no requirements for any collateral.

refinery-energy-bondOur deep understanding of the needs and challenges facing the fossil fuel industry gives our clients the advantage of being able to execute on a timely basis and not miss an opportunity.  We help our clients anticipate and plan for their future needs – working directly with them, their estimators, finance department, legal team and, as the situation dictates, their auditors. We provide insight on what may be required to build the company with more and larger bonded work, expand their bonded capacity and achieve lower rates.

In the midstream sector of transportation, storage and wholesale marketing, Unique Surety provides a variety of bonds for contract supply, contract performance for construction, repair or renovation. We also help clients with bonding requirement for pipelines, rail, barge, oil tankers and trucks, including license and permit bonds.

We can bond the terms of your contract or satisfy local, state or federal requirements where bonds are required in moving oil from production sites to refineries, delivering refined products to downstream customers, such as wholesalers, retailers or local utilities, as well as for a variety of industrial uses.

Natural gas pipeline networks consolidate product from natural gas purification plants and provide product to downstream customers. The expanded use of hydraulic fracturing, or “fracking” has revolutionized the natural gas industry by facilitating access to the country’s abundant domestic supply. Increasingly, surety performance bonds are required to indemnify various contractual roles in this segment of the industry. With its ability to respond quickly to a variety of bonding needs, Unique Surety is positioned to help energy clients obtain required bonding limits on a timely basis, so they can seize valuable opportunities and avoid missing out.

Delivering results for alternative energy and emerging technology.

Ocean, wind, solar power, hydro-electric and geothermal are among the country’s fastest-growing alternatives to fossil fuels in meeting U.S. energy demands today and in the future. Government entities and private industry often require some type of surety bond as a prerequisite to license, operate or obtain a contract to perform a service or to deliver a supply of the product.

solar-surety-bondEmerging energy technology builds on established concepts and uses innovation to develop new and better uses. For instance, waste-to-energy production now has many components and varieties, from harnessing methane gas in landfills to running turbines to generate electrical power by incinerating garbage to convert water to steam that propels the turbines. As host industries and countries have embraced this technology they require a surety bond to guaranty the performance of the equipment manufacturers. Notably, equipment must meet contractual standards to assure proper installation, proof of functionality and maintenance.

Meanwhile, traditional solar cells are being replaced by transparent films that can be placed over glass to absorb energy – even in overcast weather conditions – and installed on venues from residential homes to commercial high rises and industrial parks. The energy is stored in a variety of battery configurations. Storage batteries then can be utilized to provide electricity for residential and commercial buildings and manufacturing facilities in any weather conditions for extended time periods.

New power solutions for vehicles.

Hydrogen can power automobiles and trucks from cells that can be refueled at a “gas station” in the same amount of time as for those using petroleum. The by-product is water, which doesn’t produce air and ground pollution. Japanese car companies, the current leaders in distributing electric vehicles to government and private companies, expect to see their market share to continue to grow during the next decade.

Fly-wheel technology is being used to create perpetual energy. Natural gas is being turned into a gasoline product for use in existing cars and trucks. Electric cars are seeing rapid advancements in comfort and range; when used with solar film battery storage, they may become the impetus for residential home-power stations of the future. Today, the manufacture, installation and maintenance of all these products often involve legal contracts that require a surety bond to guarantee performance.

The development of innovative energy technologies is still in the early stages, however, in a relatively short time they are likely to provide lower-cost and cleaner energy choices to power the future. In many cases, surety bonds help raise funds, protect end users from open-ended risks and secure the performance of contractual promises between innovators, financial institution, government and private enterprise. Ultimately, the real beneficiary of these emerging technologies is the general public.

Unique Surety works with several leading surety carriers now providing bonding in the alternative and emerging energy sector and is ready to help clients obtain the required bonding at competitive prices.

For timely assistance with your energy bonding needs, contact Unique Surety at 1-561-429-3600, ext. 1001, or email us here.