Contract Surety 101

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Contract Surety 101
Contract Surety 101

This article provides a simple, easy-to-understand overview of contract surety. It explains what surety bonds are, the roles of the principal, obligee, and surety, and how different types of bonds—such as bid, performance, payment, and maintenance bonds—function to protect construction projects. Written for beginners, it walks readers through the basic concepts and processes involved in contract surety without complex jargon.

Why do I need builder’s risk insurance?

Toronto builder’s risk insurance is a type of property insurance that covers any damage done to buildings during construction, protecting the developer’s materials and equipment being used throughout the construction process in case they are damaged by a covered cause. This type of insurance is crucial when building a residential, commercial or any other type of structure, especially for builders.. Read more

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