Surety
A surety continuum for contractors and their projects.
We offer brokers support for contractors whose projects require surety bonds.
No matter the size or stage of the project. We can support contractors from submission to maintenance of the finished work.
Our underwriting and file management process is seamless and transparent. Our bonding experts understand the imperatives of each project and innovate accordingly to satisfy brokers and customers, with whom they maintain a close relationship over the course of the projects they carry out together.
We serve small and medium-sized businesses as well as large corporations, helping them to carry out structuring projects with the public and private sectors across Canada. Bonding gives them credibility by guaranteeing contractual obligations, while offering a more economical and flexible solution than a formal bank letter of credit. It’s a strategic lever that facilitates access to new markets without compromising the insured company’s borrowing capacity.
Types of bonds offered
Bid bond
The surety bond is required by the obligee to secure the price quoted by the contractor.
Letter of undertaking
The Letter of Undertaking, which usually accompanies the security bond, is a formal commitment by the insurer to issue performance and payment bonds for labor and materials when the selected contractor agrees to sign a contract with the client.
Performance bond
Is requested by the obligee to guarantee the performance of the contractor’s obligations or the work under a contract signed between a contractor and a client. In the event of default by the contractor, the insurer will assume the additional cost up to the amount of the bond to complete the work in accordance with the terms of the contract.
Labor and material payment bond
The Labor and Material Payment Bond is required by the obligee to guarantee payment of labor, subcontractors and material suppliers who have entered a contract with the Contractor performing work on the project described in the bond.
Maintenance bond
The Maintenance Bond is requested by the obligee to guarantee the quality of the work performed by the contractor and the materials used over a certain period of time.
Targeted contractors
Civil engineering firms
Excavation firms
General contractor and subcontractors
Service companies
Documents to fill out to get a quote
Get a quote
For new business or renewals, we’ll send you a quotation with a payment plan and schedule. With our insurance policies, you’ll benefit from unparalleled services like Revau Assistance’s extensive legal assistance.
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