Trisura offers contract surety facilities to construction companies, service contractors and some manufacturers to secure:
- Bids and Tenders — Under these obligations, the surety guarantees the party submitting the bid will enter into a contract if they are awarded, or they will pay the difference between their price and the amount that the owner ultimately had to contract. They may also contain a commitment by the surety to issue Final Contact Security if the bonded party is awarded the contract.
- Final Contract Security — Usually referred to as Performance security, these bonds guarantee the execution of the contract, and can also guarantee payment to subcontractors and suppliers.
Accounts are typically underwritten with a view to establishing credit facilities to support long term bonding requirements. Nonetheless, we will entertain 'one shot' deals for single use bond requirements.
Products Available
- Agreements to Bond (Consents of Surety)
- Bid Bonds
- Labour & Material Payment Bonds
- Maintenance Bonds
- Performance Bonds
- Prequalification Letters
For bond requirements that do not appear on this list, please contact your Trisura underwriter.
Classes
Our primary focus is small to mid-size Canadian companies in these classes:
- Developers
- General Contractors
- Manufacturers
- Road Contractors (paving, grading)
- Service Contractors (Waste Removal, Janitorial Firms, etc.)
- Sewer and Watermain Contractors
- Subcontractors
Appetite
Our primary focus is small to mid-size Canadian surety risks that operate primarily in Canada.
US Exposure
We underwrite accounts incorporated in Canada with US exposures, provided the majority of their assets and employees are domiciled in Canada. Our appetite is for contractors who work and require bonding primarily in Canada, but may have US bonding requirements incidental to their overall operations.
Minimum Premiums
We do not have minimum premium thresholds for contract surety facilities. An annual service fee is charged which covers the cost of bonds issued for bids and tenders.Premiums for final contract bond requirements are charged on a project by project basis based on a standard rating schedule. Our minimum premium for individual bonds is $500.