Bonds, while arranged and delivered by Insurance brokers and companies, commercial bond are nothing like insurance policies.

Bonds are 3 way agreements where 1 party (the insurance company) is guaranteeing to a third party that a second party (the business performing the job) will finish what they bid to do at the cost they bid.

Need some bonding work done? Call me at (416) 862-1750 x 222 or fill in the contact form below and let me help. For more info on bonds please see below.

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Typical bonds include:

Construction Bonds:

Bid Bond

Protects the purchaser against financial loss if the bidder withdraws its bid or does not, within the time required, enter into a formal contract.

Performance Bond

Protects the purchaser against financial loss if work is not completed according to the contract terms, and if warranty commitments are not met.

Labour and Material Bond

Guarantees that direct subcontractors and suppliers will be paid for materials/services provided to the job

Mechanic’s Lien Bonds

Resumes the flow of monies between the owner to the sub-contractor’s in the case of a dispute on the project

License & Permit bonds
License and permit bonds are required by various levels of government, normally as a condition to operate a business. These bonds ensure that businesses comply with the federal, provincial and municipal rules and regulations.

Customs and Excise bonds
Customs and excise bonds ensure that the principal will comply with federal and provincial duty and tax acts, regulations or other legal requirements as it may relate to the importation, exportation, manufacturing, sales or distribution of goods through Canada.

Fiduciary bonds
Fiduciary bonds are required to guarantee the faithful performance of a person who has been entrusted through the court or other legal representation with the property of others. The bond would respond to a loss due to the principal’s mismanagement of assets.

Lost Document bonds
Lost document bonds are required by institutions who are requested to replace financial instruments such as Canada Savings Bonds or stock certificates that have been lost or destroyed.