Please find below bonds we commonly provide for contractors across Canada

• Construction Bid Bonds – Financial Security for Contract Bidding.
• Maintenance Bonds – Provides protection for a lengthier period of time.
• Performance Bonds – Guarantee of work being completed.
• Payment Bonds – Provides protection for payment workers.
• Subdivision Bonds – A bond used for subdivison development.
• Site Improvement Bonds – Making improvements to an existing project.
• Labour And Material Bonds – Helps cover Labour and Materials Cost.
• Surety’s Consent or Agreement to Bond – Agreement with the Bond Issuer.
• Bad Credit – Bonding for Businesses with poor credit.
• Fiduciary Bonds – Similar to Insurance (Protects your business)
• Construction Lien Bonds – They help get the project rolling again by unburdening financial pressures.

 

 

 

After you have decided to become a bonded company, you can apply for a construction bond facility by speaking to a Canadian licensed insurance broker by contacting us or calling 1-888-480-7677.

If you would like to learn more about surety bonds in general and how they can be beneficial for your business, we recommend checking out the FAQ page where you can find articles on topics such as applying for a bonding facility, claims are paid out, and much more.

 

Frequently asked questions regarding bid bonds

• How much do bid bonds cost? – Free. You pay for bonds after you win the job. Usually 1% of the project value.
• How do I qualify my company to be able to bid on jobs ? – Surety will want to see financials, past job experience, bid details, & other factors.
• What is the purpose of a bid bond? – Instead of putting up your own cash or assets collateral, you post a bond instead.
• What is the turn around times for getting a bond for my upcoming bid? – As fast as 24 hours if underwriting goes smooth and all documents required are present.
• How do I apply for bid bonds? – You can contact us.

 

Frequently asked questions regarding performance bonds

• How much do performance bonds cost? – 1% of the project value.
• How do I qualify for a performance bond? – We will need to review your company’s financials, past job experience, and details of the job(s) you will be bidding on.
• What is the purpose of a performance bond? – To provide a financial guarantee to the party hiring you that you will finish the job upon agreed terms.
• What is the turn around time for me to get a performance bond? – Within 24 hours of you getting awarded the job.
• How do I apply for a performance bond? – Please contact us.

 

 

DEVELOPER BONDS

Are you taking on a condominium project in Canada? Then you need to acquire developer surety bonds to meet Tarion’s requirements and satisfy your purchasers.

 

Types of developer surety bonds we offer:

• Tarion Warranty Bonds
• Tarion Bonds for Condominium Projects
• Deposit Financing Insurance
• Subdivision Bonds

 

RECLAMATION BONDS

As a miner, you take on a vital role when it comes to reclaiming the land you disturb during a project. The reclamation standards are agreed upon between you and the governing body. But regardless of your ability to meet your contractual obligations, you need to secure the agreement with a reclamation bond.

 

 

 

 

 

 

We also offer Contractor Insurance across Canada

Types of Contractors We Commonly Insure

Frequently asked questions regarding contractor insurance

• What Is Covered Under A Contractors Insurance Policy?
• Types Of Contractors That Need Contractors Insurance And The Reasons Why?
• How Much Does Contractors Insurance Cost?
• A Comprehensive Guide For Learning How To Apply For Contractors Insurance?

 

Other Types of Surety Bonds we provide:

• Commercial Bonds – Governmental and local province regulations and statutes.
• License Bonds – Government bodies generally require you to obtain this type of bond.
• Court Bonds – Used to satisfy legalities.