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Surety bonds

Surety bonds

Surety bonds is a complex field due to its numerous specificities and requirements. With our longstanding experience, we have been able to create ties with various levels of government and insurers. Your clients can benefit from a privileged relationship with these parties.

Surety bonds for contractors

This type of surety bonds helps protect the beneficiary in the event of a breach of obligation incurred by the principal. Surety bonds are most commonly used in the construction field.

The advantages of surety bonds for contractors:

  • allows the company to keep its cash flow
  • helps the work provider ensure work compliance
  • provides protection to the principal by completing a detailed financial analysis of the contractor

For contractors, surety bonds are a display of their high degree of professionalism and structure.

 


 

Commercial surety bonds

Commercial surety bonds give contractors the possibility to obtain a license from a government department or an organization. This license protects consumers from abuse or fraud committed by retailers or contractors.

Some examples:

  • Consumer Protection Bureau
  • Travel agencies, travelling salespeople, health clubs, etc.
  • SAAQ
  • Motorcycle, used car and heavy-duty truck vendors
  • Ministry of Environment
  • Sandpit or quarry permit

 

Our insurers have solid experience in this industry. We can help you get the required approvals and make sure that your documents meet your contractual obligations.