Bonding Insurance in Barrie
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Barrie Bonding Insurance with Oracle RMS
Are you a contracting and/or construction commercial business that is located in Barrie? Are you looking to include surety bonding insurance with or for your upcoming projects? If so, you should know how important it is to work with a licensed broker with the right expertise and knowledge of the complexity of the bonding market.
The City of Barrie is located in central Ontario on the shores of Kempenfelt Bay, the western arm of Lake Simcoe. The City of Barrie is also located within the County of Simcoe. It has a population of 141,434 people and is the 34th largest city in Canada. Considering the City of Barrie is ranked as the 34th largest city in the country, the city continues to gradually increase in population and development. In fact, there are over 10,000 Barrie employees in the construction industry, which can help build properties allowing plenty of job opportunities in the city, as well as bid opportunities for surety bonding.
With that being said, for construction and/or contracting businesses in Barrie and surrounding areas looking for bidding opportunities must ensure they have bonding insurance. This is due to the fact that the City of Barrie requires construction and/or contracting vendors to have bonding insurance before they can even apply for bidding jobs. Therefore, having bonding insurance in Barrie is important to have.
Once you have successfully purchased bonding insurance, you may now officially begin bidding for potential projects that can be within your region or city. It should be noted that bonding insurance includes two common forms of surety bonding:
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. Whether customers are shopping for a better bonding insurance policy, are informed about their upcoming bonding policy renewal or are looking to save money on their current policy, overall, it is important to be informed about bonding insurance and how a policy works.
The Right Coverage For You
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In Need of Insurance for Bonding? We Have You Covered
In Barrie, when you purchase Bonding Insurance with Oracle RMS, we’re certain that your bond facility is current as we are constantly monitoring changes within the construction industry. In addition, we provide specialized bond facilities which separate us from a general insurance brokerage.
By partnering with Oracle RMS, we provide excellent customer service and work hard to get you the lowest bonding insurance rates in Barrie that best suit your unique needs. We are proud to be partnered with a wide range of specialty bonding insurance companies who can provide a variety of bonding facility insurance quotes for all Barrie business owners.
At Oracle RMS, you will work along with one of our licensed brokers to help guide you through the quoting process. They will make sure you understand all the insurance jargon and information up to the last detail of your home policy before you’ve made the final decision.
Bonding Facts in the City of Barrie
Some of the following bid opportunities in the City of Barrie include grub control services, parking application systems, basketball court construction, supply and deliveries, beach alterations and many more.
The City of Barrie went paperless as of October 15, 2018, therefore vendors looking for bidding jobs must create an online account to view, download and submit bids for a quicker and easier process.
For a list of bid opportunities in the City of Barrie, click on this link: https://barrie.bidsandtenders.ca/Module/Tenders/en
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Bonding insurance is what you need, request a free online quote now.
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“I’ve used Oracle RMS for my insurance for years and years. Very knowledgeable and helpful. Chris Masucci gave me honest advice about my insurance options and helped me choose the best coverage for my needs. He is friendly and super responsive if I have any questions. Would recommend!”
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“I purchased my first car a year and a half ago and called Oracle for an insurance quote. They have excellent customer service – in particular, Chris was very helpful in getting me a great rate. He is extremely prompt at answering any questions I have about my policy and about anything insurance related! I highly recommend this brokerage.”
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