This Checklist sets out the key issues to consider when making a call (claim) on a conditional bond (sometimes known as a default bond). The call is made to the surety, who will often be an insurance or surety company. In this Checklist, we assume that the bond was provided by a contractor to its employer, but similar principles would apply where, for example, a contractor calls a performance bond provided by its sub-contractor. Is the bond on demand or conditional? The wording of the bond should make this clear, although the name it gives itself is not determinative. Consider: • Who is the surety? An on demand bond is often backed by a bank, whereas a conditional bond is backed by an insurance or surety company. • Is the contractor a party? The contractor does not need to be a party to an on demand bond, but may be party to a conditional bond. • What is the surety’s liability? If the obligations of the surety under the bond are independent