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Surety Bonds

SURETY BOND SERVICE

MP2B’s team includes several surety bond professionals, ready to provide you with expert advice and service.
General contractors, subcontractors and other stakeholders can count on our support when it comes time to meet their contractual obligations. We maintain close business relationships with the country’s licensed insurers and are members of several construction industry associations. The trust we’ve built with our partners and the scalability of our business allow us to respond promptly to requests for surety bond issuance.

MAIN BONDS OFFERED

1. Contract surety:

  • Bid bond and letter of intent
  • Performance bond
  • Labour and material payment bonds
  • Maintenance bond
  • Other specific bonds granted in favour of a client (release of hold, joint venture, road rehabilitation/road repair, etc.)
In order to proceed with the analysis of a contract bond file, the following important documents are required and must be sent to your broker:
  • Annual external financial statements for the last two years of the company (preferably produced by an accountant in review engagement format)
  • List of accounts receivable and payable in connection with the last annual balance sheet
  • Latest annual financial statements of management companies, if any
  • Recent signed and dated personal balance sheets of all shareholders
  • Completed and signed contractor questionnaire
  • Confirmation of the bank line of credit signed by your financial institution, if applicable
  • Recently completed work-in-progress report
  • CV or summary of training and experience of key people (shareholders, estimators, project managers)
  • Any other document relevant to the understanding of the company’s financial and organizational structure
There is no need to assemble all the required documents prior to sending. Individual documents can be sent as they become available.

2.Commercial surety bond:

In order to proceed with the analysis of a commercial bond file, the following documents may be required and must be transmitted. Ask your broker for more information: