Bonding for Contractors

By May 4, 2016 June 26th, 2019 No Comments

So you’re a Contractor and things are going pretty well, but you’d like to start bidding on Public Tenders.  You start by picking up that first tender package and find that you cannot bid the project unless you provide a Bid Bond and Agreement to Bond.  Further into the Tender Specs you see that even if you manage to bid the project and land it, you will also need to provide a Performance Bond and a Labour and Material Payment Bond. Sound Complicated?

Relax, we are here to help you through this process and assist your firm on its way to being able to tap into publicly tendered projects.  At St. Andrews Insurance Brokers we specialize in assisting contractors and help you focus on making money while simplifying the issues which may cause you grief, such as BondingContractors General Liability Insurance, Builders Risk Insurance, Wrap-Up Liability, Umbrella and Commercial Auto Fleets.

Bonding is another form of credit for your firm.  Consider it a similar process to applying for your firms Operating Line of Credit at the Bank.  We will asset you in putting together a submission to a suitable Surety Market who can meet your firm’s current circumstances.  Just like all Contractors aren’t the same, Surety markets vary as well.  It’s our job to find and represent you with the right Surety Underwriters, who will want to support your construction company in your field of expertise.  The Surety Company will review your firms financial position, experience and operations and assess whether your firm qualifies for Bonding support. This is where St. Andrews Insurance Brokers shines.  Our experience helps to ensure that your firm is best represented and this ultimately improves the odds of getting qualified for a Surety Facility.

We’ve worked with hundreds of Contractors in Ontario, both large and small.  So please contact us today for a free assessment and recommendations and then your well on your way to getting bonded.

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