Expert Surety Services in Quebec
Cautionnement Expert offers you surety bonding services in order to offer you adequate protection tailor-made to your situation and your specific needs. Our professionals offer you advice on surety bonds and support you throughout the process, from analyzing your files and your needs to issuing your bond.
What Is the Bond?
A bond is a document by which one party, the surety, guarantees to another party, the beneficiary, that the third party, the principal debtor, will be responsible for the execution of the obligations stipulated in the bond in accordance with a law, a regulation or an agreement signed between the beneficiary and the principal debtor such as a construction contract.
The Tripartite Relationship of the Bond
Usefulness of Surety Bonds
The bond has the effect of qualifying the entrepreneur for any activity: execution of a contract, exercise of a profession, administration of an estate, etc.
In the eyes of the client, the bond can, for example, constitute an additional guarantee that the work will be carried out in accordance with the contract.
For the authorities, it is the guarantee that the applicant will carry out his activities within the limits of the law or regulations (deposit for licenses and permits).
Surety Means Guaranteeing the Performance of an Obligation.
This obligation may be contractual, such as the commitment to construct a building (performance bond) and/or the commitment to pay subcontractors (labor and materials payment bond).
It may also consist of respecting a law or municipal regulation (license and permit deposit).
Our Surety Insurance Partners
