Queensland-based Multitrode manufactures and distributes pump station management systems, remote terminal units, liquid level sensors, supervisory control and data acquisition software, as well as web-based monitoring and control systems.
As a specialist in pump station technology for water and wastewater utilities, Multitrode won a contract to supply and install monitoring equipment at key waste facilities for a city municipality in the north-eastern United States.
Under the terms of the contract, Multitrode needed to provide a performance bond.
In the United States many companies expect contractors to provide performance bonds to guarantee 100 per cent of the value of the work they are contracted to provide, particularly in situations that are complex or technically difficult.
Through our ongoing arrangement with Liberty Mutual, we were able to underwrite a US$400,000 performance bond to help Multitrode secure the US contract
Our relationship with Liberty Mutual, one of the largest surety bond providers in the United States, allows us to offer eligible SME exporters ready access to performance bonds in the US market.