A maintenance bond provides security that a contractor will maintain and/or repair deficient work under the contract within a specified time period after a project is completed.
Maintenance bonds are important in a construction project setting because it is essentially an ironclad promise that you, the contractor, will do your job and do it right. This allows for a strong and trusting relationship with your project owner from the get-go, which will naturally segue into a successfully executed project and ultimately secure you a positive relationship with the developer, fostering future opportunities with them.
To discover how the team of insurance and financial experts at Ferrari & Associates can assist you in acquiring a maintenance bond to help elevate your next substantial project, connect with us today at one of our two convenient locations — Vaughan or Oakville, both just outside of Toronto. One of our seasoned brokers will meet with you to further explain the importance of maintenance bonds and work with you to create one to be presented to the project owner of your next big endeavour.