Contract Surety Products

Surety's Prequalification Letter

Contractors are increasingly required to prequalify with owners and architects before being permitted to tender on a job. As part of this process the contractor often must submit a letter from their surety company that they have a bond facility in place.

Bid Bonds

A bid bond guarantees that the winning bidder will enter into a valid contract and will provide the required performance security.

Agreements to Bond

An agreement to bond commits the surety to providing performance and payment bonds if the contractor is awarded the contract.

Performance Bonds

The performance bond provides a financial assurance that the contractor will complete all the terms and conditions of the contract.

Labour and Material Payment Bonds

The labour and material payment bond provides a financial assurance that the contractor will pay parties who have worked on or supplied to a bonded contract.

Maintenance Bonds

A maintenance bond will guarantee that the contractor will comply with the warranty (guaranteed maintenance) provisions of the contract. Note that a performance bond guarantees all the provisions of the contract, so a separate maintenance bond is usually not required.