A construction bond is a 3 party agreement in which the bonding company (surety) guarantees that a contractor will perform obligations according to the established plans and specifications of a contract.
Are you an emerging contractor looking for your first performance bond facility? Have you experienced difficulty or frustration qualifying for a traditional surety or have been deterred due to the high complexity or the vast amount of paperwork?
The Emerging Contractors’ Construction Bond Program offers a quick and easy qualification process and provides the flexibility to graduate into a Standard Facility, issuing performance bonds greater than $300,000.
The program’s construction bonds are underwritten by a Canadian licensed and federally approved insurance/surety companies, on industry standard CCDC forms. The program facilitates bids bonds, 50% or 100% performance bonds, 50% or 100% labour & material bonds, maintenance bonds, consents of surety, agreements to bond and all other standard and non-standard requirements.
To qualify for construction bonds, the surety will look to the 3 “C´s” of credit.
Ai Surety Bonding has programs available for construction bonds of all sizes. Whether you are a large experienced contractor or an emerging contractor, we can secure the bonding facility that is right for you.
Contractors of all types
All types of contracts are considered
Yes, all types of contracts are considered
The program is flexible and can accommodate all bond limit requirements, O.A.C.
Bid Bonds, Agreements to Bond and Pre-qualification Letters are included with your surety facility at no extra charge
An annual fee is determined on a case by case basis and is dependent on credit profile and scope of work
One-Two Percent and a half per cent of the overall cost of the job, depending on your business profile and type of bond(s) required
Yes, the standard is a one-year warranty/maintenance period, and we can offer two years or more, on a case by case basis
The Emerging Contractor Program can facilitate
That is not a problem. We can handle that.
Are you an emerging contractor looking for your first performance bond facility? Have you experienced issues qualifying for a traditional surety or have been deterred due to the high complexity or the vast amount of required paperwork?
Ai Surety Bonding offers solutions for emerging contractors. The emerging contractors’ program offers a quick and easy qualification process and provides needed flexibility to process into a standard surety facility.