A lien bond is requested by the contractor in order to remove a lien placed against the real estate property on which the construction project is taking place. The lien bond acts as a security measure on behalf of the contractor, in place of cash or a certified cheque, pending a judgment by the court. Acquiring a lien bond enables a contractor to have the construction lien removed from the project land while waiting for a resolution to the lien claim.
The team of insurance and financial professionals at Ferrari & Associates has been working with contractors and the construction industry since the foundation of our company in 2009, and we are dedicated to assisting these clients in getting their projects off the ground in a fluid and legally airtight manner. If you are in need of a lien bond, connect with us at one of our two convenient locations — Vaughan or Oakville, both just outside of Toronto — where one of our seasoned surety experts will help equip you with the materials you need to begin your work on the right foot.