Suretio is designed as technology and workflow infrastructure.
Suretio provides software, workflow, data-capture and introduction functionality for construction-security requirements. Suretio does not itself underwrite a bond, guarantee a contractor's obligations or provide legal advice.
Where a requirement constitutes or involves a regulated insurance product or regulated insurance-distribution activity, that activity must be performed by an appropriately authorised or exempt firm. Users should verify the status of any firm providing regulated advice or arranging insurance.
Submitting a request does not guarantee that any surety provider will offer terms, issue a bond, approve a facility or accept proposed wording. Underwriting decisions remain with the relevant provider or intermediary.
The legal effect of a bond or guarantee depends on its wording and the underlying contract. Users should obtain suitable legal, insurance and commercial advice before accepting security terms.
Before commercial launch, the operator should obtain professional regulatory advice on its exact customer journey, remuneration model, partner structure and financial-promotions obligations.