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What Is Bonding Insurance?
*The information contained in this article is specifically related to Canadian Surety Bonds & Insurance. “What is Bonding Insurance?” A Common Misnomer. One of the most frequent misunderstandings in the financial world is the use of the term “bonding insurance.” While this phrase is widely used, it’s actually an incorrect terminology. At Bond Connect, we often receive inquiries from clients about “bonding
Surety Bond Requirements: What You Need to Know
If you have been pursuing construction projects in the civil sector, you have likely heard about surety bonds. What are they, and how can you obtain them? Let’s find out in this guide! Surety bonds
5 Common Errors Contractors Make When Applying for Surety Bonds
This article is referencing surety bonds, specifically contract bonds, and setting up a bond facility; this is comparable to a subscription that enables you to provide bonds as a contractor throughout the year. A bond
Where to Purchase a Surety Bond: A Guide for Businesses and Individuals
A surety bond is a legally binding contract that involves three parties: the principal, the obligee, and the surety. For businesses, surety bonds are essential for securing contracts, licenses, or permits, as well as ensuring
5 Tips For Obtaining Construction Surety Bonds
Securing a construction surety bond feels like a steep climb; necessary, yet fraught with bureaucratic hurdles and stringent requirements. You know the drill: no bond, no bid. As a contractor, it’s the golden ticket to
CCDC Updates Surety Bond Wordings for the First Time Since 2002
In an effort to modernize and streamline surety bond agreements, the Canadian Construction Documents Committee (CCDC) has introduced updated wordings for Bid Bonds, Performance Bonds, and Labour & Material Payment Bonds. These updates mark the
What You Need to Know About Performance Bonds
As a leading Canadian Surety Bond Brokerage, Bond Connect is committed to providing our clients with comprehensive insights into the world of surety bonds, with a particular focus on Performance Bonds. These bonds play a
When Are Maintenance Bonds Used?
In this article, we’ll review the broad scope of contract surety bonds in Canada, while focusing on when Maintenance Bonds are used in different scenarios. Understanding these bonds is crucial for anyone involved in the
Technical Safety BC Gas Bond
Obtaining your $10,000 Technical Safety BC Gas Bond is now a straightforward and hassle-free process, despite the often complex nature of regulatory compliance. Through our user-friendly online system, securing your bond takes just a few
Canadian Surety Bonds in 2024: Looking Forward
As 2024 unfolds, the Canadian surety bond industry stands as a crucial pillar in various sectors, notably construction, infrastructure, public services, development, and imports. Its integral role in assuring project completion and financial stability positions
The Ultimate 2024 Guide for Customs Bonds in Canada
If you have plans to import goods into Canada or the United States, this is when you might come across customs bonds. So, what is a customs bond, and how do you get one? In