Helping miners focus on what is Important
FCA is Canada’s Reclamation Bond Expert Since 1919
FCA has been providing Canadian companies with surety bonds since 1919. We have set the industry standard for turnaround time for both new and existing clients. We pride ourselves in ensuring our clients never miss out on an opportunity.
Why should I choose a surety bond over a letter of credit?
- Cost – surety bonds are often a much cheaper solution vs. a letter of credit. Depending on the underwriting, the cost of these bonds can range from 1-2.5% of the bond’s face value, annually.
- Security – unlike letters of credit, surety bonds are typically based on an unsecured relationship. Depending on the financial strength and track record of the mining company these bonds are secured either on the basis of an indemnity agreement or a combination of an indemnity agreement and a modest amount of collateral in relation to the value of the bond.
The cost for these bonds can range between 1% and 2.5% per year against the value of the bond. Where a miner lands depends on the quality of the asset, their financial strength and track record.
Our team specializes in surety bonds. We have dedicated professionals who understand the product and have underwritten these obligations before. We also partner with all the key reclamation bond sureties in Canada.
Yes, junior mining companies can secure surety bonding capacity and there are markets within Canada that specialize in this class of business.
If all the underwriting information is available we can typically secure these bonds within 72 hours. limits to ensure they can properly service their clients and grow their business.
Our organization has been working with FCA Surety Bonds and Insurance for over 2 years. The team, led by Jamie Collum and Warren Griffiths, exceeds expectation in service, responsiveness and construction knowledge. Our business needs often demand last minute bonding, and we have never been disappointed by FCA. Always going above and beyond to deliver the right solution in a seamless and effortless manner. We highly recommend FCA for all construction insurance needs.
After 6 years in business, our construction company was asked to provide bonding for 3 very important projects that were awarded to us. We had no idea where to start as bonding was something totally unknow to our organization. A quick search online, and let me say, we couldn’t have found a better company to assist us…. FCA! Andrew and his team were quick to explain the intricacies of bonding, all the requirements including processes. They took their time to clearly explain and educate us on all that is bonding. They were patient and they took the time to walk us through the necessary steps to get us started and set up. These days, it is rare to recieve this level of support. I highly recommend FCA!
FCA is one of the best companies we have had the pleasure of working with so far. Very professional, fast and always on time. Looking forward to continue working with them.