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Discounted Bond Rates Determining project bond rates
If you have written the Quiz and achieved a score in excess of 80% or are a member of the following associations you are entitled to
Toronto Construction Association
Electrical Contractors Association of Ontario
Saint John Construction Information Centre Inc.
Kingston Construction Association
For each stage of the three stages of construction, there is a corresponding bond product. One key advantage of the Quickbond program is that you are charged an annual fee of only $400 and then $250 for each tender bond used during the year. If you are low bidder and require a Performance or
Labour and Material Payment bond you will be charged according to the premium calculator below.
Prequalification
When being prequalified for projects, the contractor is often required to submit a letter confirming “bondability.” For those qualified under the Quickbond program, we can provide this letter at a cost of $150.
Tender Stage
At the tender stage you may be asked for one or both of the following:
- Bid bond
- surety's consent / agreement to bond
As part of the Quickbond program, these documents can be provided to you at a cost of $250.
Contract Stage
Once you are awarded a contract, you may be asked to provide a performance bond or a performance bond and labour and material payment bond. By inputting the contract value in the calculator below and answering the questions, you’ll get your bond premium which you can then build into your estimate.
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