Contract Bonds
At Wilson M. Beck Insurance Services, we appreciate the intricacies, risks and nature of the construction industry. Our contract bonding services are designed based on these unique needs. To better expedite our clients' needs, we have long established relationships with every major bonding company in Canada. This ensures that our clients will receive the most responsive and competitive bonding program available.
To establish a surety facility on your behalf, we will need the following information:
- A completed Contractors Questionnaire. Please complete this questionnaire as thoroughly as possible; it will be the cornerstone of our presentation.
- Copies of the year-end financial statements for the last two years for your company. Please include in-house statements for a recent month-end (balance sheet, income statement, aged accounts receivable and accounts payable listings) and statements of any affiliated or associated companies.
- A completed Work on Hand Report.
- A completed Personal Financial Statement from each Shareholder.
- Resumes of Shareholder(s) and any key or specialized personnel employed by the company.
- A letter from your company's bank confirming the line of credit available (if any) and the security held to support that line. You might consider having a brief recommendation in this letter, as this would be very useful.
- If you have any letters of commendation from project owners for jobs that you have completed, these would also be helpful.
Upon receipt of the above information, we will do a thorough analysis and approach a bonding company on your behalf to obtain a facility acceptable to your firm. Please complete the Bond Requisition Form for any bond requests (bid or final bonds).
