Time-sensitive bonding solutions
Federated Surety is committed to meeting the surety needs of new and tenured contractors across Canada with an extensive selection of contract and commercial bonding solutions. Federated Surety supplies companies with the information necessary to determine the appropriate bonding solution.
Contract surety bonds
Contract surety bonds are required for government construction projects and are frequently applied in the private and institutional sectors of the construction and contracting industry. Contract bonds are a guarantee from Federated Surety to a project’s owner (obligee) that the contractor (principal) will abide by the terms and provisions of a contract. Types of contract surety bonds provided by Federated Surety include:
- Bid Bonds and Agreement to Bond
- Performance Bonds
- Labour and Material Payment Bonds
Commercial surety bonds
In a commercial surety transaction, Federated Surety guarantees the obligee (often a provincial or federal governing body) that the principal (a business or individual) will comply with the terms of regulations, governing acts, or by-laws as they relate to certain business activities. Under the bond, Federated Surety provides remedy in cases where the principal fails to comply with such regulations.
Types of commercial surety bonds provided by Federated Surety include:
- Canada Customs and Excise Bonds
- License and Permit Bonds
- Fiduciary Bonds
- Lost Securities Bonds