When looking for surety bonds, it’s important to have a broker that understands the complexity of the bond marketplace. At Oracle RMS, providing specialized bond facilities separates us from a general insurance brokerage. We’ve earned our reputation in providing superior service and specialist knowledge. We’re certain that your bond facility is current as we are constantly monitoring changes within the construction industry.
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At Oracle RMS, we provide the two most common forms of surety bonds:
Construction Contract Surety Bonds: One of the most common forms of bonding used in a construction setting. It is set in place to protect owners and suppliers from the consequences of a contractor defaulting on a project. Such bonds are a guarantee from the Surety to a project Owner that the Contractor will follow the direction of the contract. Bonds that are used most often are the Bid bond, Performance Bond and Labour and Material Payment bond.
Commercial Surety Bonds: These types of bonds guarantee that any government body, financial institution or private corporation’s security requirements are adhered to and that any financial risk is protected via legal compliance by the principle. Monetary losses, fraud and/or misrepresentations are a few areas that offer protection to the end user.
Our surety bond services provide:
Advice on contract reviews, current surety procedure and bond company appetites
Power of Attorney and in-house bond authority to issue bonds in time sensitive environments
Internally underwrite our contractor’s bonding programs in order to maximize your bond facility
Strong relationships and access with all major bonding markets
Creative solutions to tailor your bonding requirements with respect to larger and specialized projects, bonding of sub-trades, joint ventures and bond claim handling/disputes
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Looking for more information?
Check out some of these articles to learn more about Oracle RMS:
- Bonding Insurance in Aurora
- Bonding Insurance in Barrie
- Bonding Insurance in Caledon
- Bonding Insurance in the County of Simcoe
- Bonding Insurance in the County of Brant
- Bonding Insurance in Durham Region
- Bonding Insurance in Guelph
- Bonding Insurance in Halton Region
- Bonding Insurance in Hamilton
- Bonding Insurance in Kitchener
- Bonding Insurance in London
- Bonding Insurance in Mississauga
- Bonding Insurance in Newmarket
- Bonding Insurance in Niagara
- Bonding Insurance in Oakville
- Bonding Insurance in Ottawa
- Bonding Insurance in Peel Region
- Bonding Insurance in Richmond Hill
- Bonding Insurance in Vaughan
- Bonding Insurance in Waterloo
- Bonding Insurance in York Region
Should you have any further questions, please contact Ben Abbinante, our bonding specialist, who will gladly assist you.
Ben Abbinante
Vice President of Surety
ben@oraclerms.com
905-660-8267
