White Star Surety is a joint venture consisting of local Indian business interests headed up by Mr Vikash Khandelwal, and the South British Capital Group based in Singapore, with offices in London, Mexico City, and Auckland. Our principals have been surety bonding specialists globally for the last 25 years.
Entities around the world about to issue a contract often require additional security from the other party to avoid a financial loss in the event the contract is defaulted on. This can take the form of cash deposits, bank guarantees, or sureties and guarantees from a specialist surety or guaranty company.
Until recently in India, sureties and guarantees were mostly issued by banks. White Star Surety Private Limited is a specialist surety & guarantee company based in New Delhi bringing new options and alternatives to a growing market in India that needs more flexibility in the provision of sureties and guarantees than banks have traditionally been willing to provide.
Whether you are wanting your contractors, tenants, borrowers, dealers or franchisees to put up a surety or guarantee in your favour, - or you have been asked to put up a guarantee, performance security or surety, our team at White Star Surety will be pleased to help structure and provide it for you.
“There is an estimated US$100 billion locked up as non-productive collateral security for bank guarantees in the Indian construction sector alone. Those assets could be much more productively used in the contractor’s business. Our aim at White Star Surety is to take on good quality risk with reputable counterparties in a much more customer-friendly way and with lower security collateral requirements than the banks, so that Indian business can be much more capital efficient.”
A Surety Bond is a contract between two parties guaranteeing the obligations of a third party.
Party A who makes a contract with Party B and needs the backing of a guarantee because the business with Party B requires it, in case Party A defaults on its contract . This requirement is common in contracts with the government, in construction and in international trade among others.
Party C who offers to guarantee the fulfillment of the contract between Party A and B, and who, in case Party A defaults will pay the loss to Party B.
The guarantee between Party C and Party B guaranteeing the obligations of Party A is called a Surety Bond.
There are many types of Surety bonds and White Star Surety (Party C) designs the guarantee that your business needs in return for a fee from Party A. If Party A defaults and White Star Surety has to pay Party B then, White Star Surety is entitled to recover its loss from Party A.
Files coming soon.
In India, 62 million children under 5 are malnourished, and 73 million children do not attend school. One third of all children under 16 are already working.
In India White Star Surety supports Harmony House, which takes in street children in New Delhi providing the needs of these destitute children across food, health, hygiene, and education, and future employability.
White Star Surety Private Limited
Thapar House, 3rd Floor, 124, Janpath Road,
Connaught Place, New Delhi -110001 India.
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