Bonding
Speak to our Bonding Specialist for more information on these and other products.
Stephen McCleave - FCIP, CCIB, CRM, CAIB T. (902) 421-0054
Commercial Risk Manager stephen.mccleave@mcti.ca
New Bond Accounts for Contractors
Large or small, we can supply contractors of all types and sizes with the project bonding you need.
For loss sustained because of dishonest acts by covered employees.
For loss of money, securities or other property due to employee fraud or dishonesty - a 3D bond (Employee Dishonesty, Destruction & Disappearance).
Protects against poor workmanship, or failure to pay material and supply bills.
For a plaintiff or defendant to provide guarantees during legal proceedings.
For building contractors, bankers, manufacturers, service providers, or wherever one party needs protection against the failure of others to perform.
Usually written as two separate bonds - one for performance of the contract and the other for payment of all labour and material costs.
Bidders provide a bid bond on the accuracy of the contractor's bid, which can be forfeited if they fail to enter the contract if it is awarded to them.
Used by financial institutions to guarantee funds issued to construction loan borrowers.
