Solutions for your most complex surety risks
In Norway, surety supports construction and infrastructure by providing bonds that help businesses meet contractual obligations. In a challenging economic and political climate, surety is often a better alternative to bank lines of credit because it preserves working capital, protects borrowing capacity, and provides contract-specific security.
Our products
Surety guarantees help businesses operate with confidence by providing financial assurance that contractual and regulatory obligations will be met. They support a wide range of commercial activities, protecting counterparties from financial loss while reducing the need for businesses to tie up working capital. From trade and energy to environmental obligations and infrastructure projects, surety guarantees are tailored to meet diverse business needs. The most common guarantee types include:
Housing guarantees
Covers the obligations of construction during the construction period, as well as warranty for five years after takeover.
Builder’s guarantees
Ensures the
client’s payment obligations according
to the underlying contract with the
main contractor of the project.
Contractor’s guarantees
Guarantees the contractor’s performance obligations related to execution for their client during the construction period, in addition to warranty for normally three years
after takeover.
Rental guarantees
Ensures that a tenant pays rent for a given period as agreed in the underlying lease with the landlord.
Customs guarantees
Serves as security for the payment of customs duties and taxes when trading with other countries.
Payment guarantees
Ensures that the buyer complies with his payment obligations and pays the agreed amount to the seller.
Performance guarantees
Compensates the customer for the extra costs and errors that may occur in the event of nondelivery or completion.
Advance payment guarantees
Provided as security for the advance payment if the goods or services are not delivered as agreed.
Permit guarantees
Ensures the transport of goods or people where there is a requirement for a permit (either a goods transport license or a passenger transport license).
Warranty guarantees
Allows for release of capital/reduced debt burden/use of the granted credit limit for other purposes, depending on the conditions for the granted guarantee.
Construction
Surety guarantees are vital to the construction industry, helping provide confidence that contractors will complete projects, meet contractual requirements, and deliver work as agreed.
Engineering
Engineering projects often rely on guarantees to provide assurance that contractors will complete work as agreed, from design and manufacturing through to installation and delivery.
Energy
In the energy industry, including renewables, oil & gas, etc., guarantees help ensure contractors fulfill obligations related to power generation, transmission, drilling, project delivery, etc.
Defense
Guarantees play a pivotal role in the defense industry by helping ensure contractors fulfill obligations related to military equipment, infrastructure, and maintenance services.
Transportation
For transportation businesses, guarantees can provide added assurance that vehicles, fleet services, and infrastructure-related work will be delivered as agreed.
Manufacturing
In manufacturing, guarantees can help support confidence that suppliers and contractors will deliver machinery, components, and finished products in line with agreed timelines and specifications.
Products built for your industry
Trusted by more than 450 customers throughout Norway, our guarantee solutions are designed to address diverse business needs across multiple industries. In addition to the sectors featured below, we also support fish farming, telecommunications, renewables, naval construction, and more.
Get in touch
To learn more about Liberty Mutual Surety’s products and services in Norway, download our fact sheet or contact one of our underwriters.