Third-Party Construction Project Insurance Solutions – Manitoba
Strategic partnership to ensure a bonded guarantee
Signing a contract is a commitment to follow through and to complete the work. A bonded guarantee can come in handy when backing up is needed. Through a detailed risk management assessment, you can secure the right bonds that allow you to get the contracts you want.
An effective risk management strategy must first consider unforeseen threats that could possibly blindside you. By combining our unique perspective and knowledge, we can expose those unexpected hazards and handle them without hesitation.
SEE THE BLIND SIDES OF YOUR RISKS FROM EVERY ANGLE
LET'S BUILD A CUSTOM INSURANCE SOLUTION
Whether you are an independent contractor, managing a large firm that subcontracts work, or a multinational manufacturer/supplier, BFL CANADA can provide you with a surety bond solution that meets your needs.
Provides financial assurance that the bid has been submitted in good faith and that the contractor intends to enter into the contract at the price bid and provide the required performance and labour and material payments bonds.
An undertaking by the surety to provide performance and labour and material bonds for the contractor if their tender is accepted.
Allows you to obtain a pre-qualification letter confirming that the company qualifies as a potential bidder for a particular project or a particular owner.
This letter is not a proof of bond, but rather a pre-bond document issued by the surety to guarantee to the client that performance and payment bonds for labour and materials will be issued in the event a contract is signed.
Guarantees to the client that performance and payment bonds for labour and materials will be issued upon the signature of the contract.
Protects the owner from financial loss should the contractor fail to perform their obligations in accordance with the terms and conditions of the contract.
Guarantees that the contractor pays their subcontractors and suppliers for work they have done and material they have supplied (reduces the potential for liens against the property).
These bonds can be required in order to protect the contractor or project manager once the structure or project is completed. Maintenance bonds are a form of guaranty that covers maintenance against potential default and faults for a specific time period.
Some municipal, provincial and federal entities request licenses and permit bonds for specific industry/business operations depending on the risk for the public. Below is a list of licence and permit bonds needed in Canada:
- Automobile/Motor (or Used Car) Dealer Bond
- Consumer Protection Act Bond
- Legal Profession Bond
- Livestock Dealer Bond
- Mortgage Brokers Bond
- Private Investigator and Security Guard Bond
- Private Approach Bond
- Real Estate Broker Bond
- Securities Act Bond
It is difficult to list all our products because many of them are customized.
YOUR TEAM OF LOCAL ADVISORS
THE BFL CANADA ADVANTAGE
BFL CANADA has achieved extraordinary growth because of our consistent ability to perform and deliver due to our expertise, professionalism and dedication, as well as our entrepreneurial culture. This culture and work ethic have driven our growth and attracted organizations with which we have established meaningful and mutually beneficial partnerships.