Membership

About SAC

The Surety Association of Canada (SAC) is the national trade advocacy association that represents the interests of the surety industry across Canada. Its members consist of primary surety firms, surety reinsurers, surety/insurance brokers, and other organizations that provide related and complementary services to the surety industry.  SAC is incorporated under the Canada Not-for-profit Corporations Act.

While the majority of the surety industry’s premium revenue is derived from construction contract bonds, SAC also represents the interests of those organizations that focus on non-contract or commercial surety.  SAC does not represent or advocate on behalf of the fidelity bond industry.

Since its formation in 1992, SAC has become a trusted resource for construction purchasers, design professionals, contractors, suppliers and other stakeholders in construction and business communities. SAC has developed its own bond forms in response to industry need and in consultation with the construction industry.  SAC and its members regularly meet with owners, contractors, other associations and related organizations to educate them about surety bonds and the suretyship process. SAC also monitors legislation across the country that will impact its members and works diligently to advance the surety cause with lawmakers and government officials.

Why Join?

As the national body for the Canadian surety industry (SAC’s members represent more than 90% of all surety premium written in Canada), SAC is the comprehensive and accessible resource centre for those seeking information and answers from our industry. As a member of the surety community, SAC will work on your behalf; engaging key decision makers (and decision “influencers”) to bring about surety-friendly conditions in bonds, contracts, legislation and regulations.

SAC pledges to its members that it will:

• Educate surety stakeholders to better understand surety risk tools to enable more informed decision making.
• Consult with and understand the issues of external stakeholders prior to developing surety industry positions and solutions.
• Encourage the evolution and design of surety products, as well as the use of suretyship as the optimal means of protecting Canadian taxpayers, consumers, governments and businesses.
• Provide a forum and a means to collaborate with other organizations that provide related and complementary services to the surety industry.

Types of Membership

SAC has two classes of membership:

1. Full Member; and
2. Affiliate Member.

Full Membership

As a surety or reinsurance firm, you are invited to join as a full member of our association.  Firms that are full members and their employees will receive or be entitled to:

• Company office information provided through the SAC searchable on-line members’ directory. Search results will include full address information, as well as company logo and a link to your company website.
• Business referrals.
• Receive all SAC communication including “What’s New In Surety” and “Tender Alerts”.
• Access to Members’ Only section of the SAC website.
• Eligible to sit on the Board of Directors and Executive Committee.
• Eligible to participate on regional committees and various sub-committees.
• Voting privileges at SAC Annual General Meeting.
• Use of SAC copyrighted material and logo at no charge.
• Discount on SAC events and functions.
• Discount on A.C.S.B. Designation Program registration.

Affiliate Membership

With SAC members accounting for more than 90% of all contract surety written in Canada, other organizations such as brokers and law firms are encouraged to join the Surety Association of Canada.  These organizations may join as Full Members or as Affiliate Members.  Firms that are affiliate members and their employees will receive or be entitled to:

• Company office information provided through the SAC searchable on-line members’ directory. Search results will include full address information, as well as company logo and a link to your company website.
• Unlimited number of contacts listed through SAC’s on-line “Find a Broker” directory. (Brokers that chose to become full members will also receive this benefit.)
• Business referrals.
• Receive all SAC communication including “What’s New In Surety” and “Tender Alerts”.
• Access to Members’ Only section of the SAC website.
• Eligible to participate on regional committees and various sub-committees.
• Use of SAC copyrighted material and logo at no charge.
• Partial discount on SAC events and functions.
• Partial discount on A.C.S.B. Designation Program registration.

Fees

Full members are invoiced based on direct written premiums.  Affiliate members are charged a flat annual fee of $3,000.  Please CLICK HERE to view the current membership fee structure.