In 2009, SAC developed a set of criteria to assist potential issuers and users in the assessment of the capabilities of various electronic surety bond systems. SAC then formulated these criteria into a checklist to evaluate existing software packages.
There are a number of commercially available software programs capable of creating reliable and enforceable electronic bonds that meet the criteria of the Surety Association of Canada. However, no two products providing e-bonding solutions are alike in that they have different capabilities and different focuses and objectives. Some systems provide complete document creation and management functions while others are simply electronic conduits that deliver whatever document is provided to them in any format. Some systems are “surety only” and provide a bond that will be compatible with various tendering packages such as MERX. Still others are complete electronic tendering packages that include a surety bond component.
The Surety Association of Canada reviewed and assessed several of the existing e-bonding systems listed below and copies of these assessments are available for download. Please remember that technology evolves at a rapid pace and that some of the information contained in the assessments may not be up to date. We also remind members and others that these assessments are for information purposes only and that SAC does not endorse or promote any system.