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Infrastructure spending has increased internationally in recent years and global construction firms are now finding themselves competing for work in several countries. Historically, international banks provided more than 90% of the bonds and guarantees required by these construction firms; however, the Basel II and III capital requirements have forced banks to raise the cost and limit the supply of the guarantees provided. United States and European sureties have expanded their global capabilities to meet the demand caused by the change in bank appetite.For US based firms that are active internationally, or looking to expand outside the US for first time, international surety requirements can present challenges. Overseas bonds tend to be more of a “pay on demand” basis vs. conditional bonds, which are the norm in North America. Utilization of insurance bonds will create the opportunity to diversify credit sources, reduce costs and shift banking facilities to support working capital needs of the firm. International firms entering the US market are also faced with challenges due to differing US laws regarding the requirement for 100% bonds.Clients with international surety needs require a broker with deep understanding of the construction marketplace, the associated risks of each local market, and ways to manage and mitigate those risks in order to compete and grow on the international stage.To meet the needs of our international surety clients, Alliant provides: