Surety Association of Canada Continues to Recommend Digital Bonds

bidsandtenders

posted on 2 hours ago — updated on 1 second ago

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Shifts in globalization and digitization of business, combined with the COVID-19 pandemic, have sped up the need for dramatic shifts in procurement processes. In its recent white paper, the Surety Association of Canada is renewing its assertion that digital bonds offer integrity, security and verifiability, while maintaining a no-contact digital business model.

“Over the past number of months, SAC has been inundated with inquiries from both owners and contractors about how to obtain a digital bond,” states Steven D. Ness, President of the Surety Association of Canada. “And although we have stated our recommendation previously and provide comprehensive information on our website regarding e-bonding and digital bonds, we felt it necessary to create this white paper to provide a printable resource for various stakeholder groups”.

You can download the white paper on their website.

bids&tenders eProcurement platform is proud to offer clients the option to accept digital performance, labour and material bonds with their online bid submissions. Several clients have transitioned to accepting digital bonds exclusively given the current business restrictions and health risks of the pandemic.

If you’re interested in implementing bids&tenders to bring your own procurement processes online, schedule a demo today to speak with an account executive.
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