A performance bond addresses a contractor's obligations to the project owner under the bonded contract. It is not a warranty that every project disagreement will be paid in cash.
A.M. Fredericks UnderwritingABEX o/b Affiliated Broker Exchange
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AVRO Insurance ManagersBeazley Canada LimitedBerkley Insurance CompanyBlueCross BlueShield
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Great-West LifeGroupAssureGroupOne Insurance
HDI Global Specialty SE
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TravelersTrinity Underwriting
Unique Risks
Victor Insurance
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A practical comparison guide
Review the contract, bond form, penal sum and notice provisions together. Identify who can declare default and what steps the obligee must take. Ask how contract amendments, schedule changes and subcontracting affect the bond. Keep the executed contract and issued bond accessible throughout the project.
Before requesting terms, identify the party requiring the bond, the exact obligation and the approved form. Ask about underwriting information, indemnity commitments, collateral if applicable, and how cancellation or release works. Keep written confirmation of acceptance. A quotation, application or payment receipt is not the same as an issued and accepted bond.
Use current documents. If a detail is uncertain, identify it for the provider instead of guessing.
No. A bond supports a specified contractual obligation to the obligee. Liability insurance addresses insured claims under its policy wording. A construction project may require both, and one certificate cannot replace the other.
For a bond, the obligation, financial position, experience and required wording are part of the discussion. Ask for all costs and indemnity requirements before proceeding. Acceptance is subject to the surety and obligee.
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Discuss my requirements →Further reading: Surety Association of Canada guidance. Check the current document and your own policy or bond wording. This page is general information, not an issued policy or bond.
Be prepared
Hypothetical situations to help you prepare questions—not actual client claims or promises of coverage.
Scenario: The party protected by a bond alleges the principal failed to meet the bonded obligation.
What happens next: Review the specific bond and contract before action. The surety investigates the claim and the parties’ compliance; payment is not automatic.
Scenario: A potential claimant needs to notify the surety.
What happens next: Check who may claim, required documents, notice method and deadlines in the actual bond. Different bond forms have different requirements.
Scenario: The surety requests supporting records.
What happens next: Provide the relevant contract, correspondence and evidence. Indemnity obligations may allow recovery from the principal or indemnitors.
Actual outcomes depend on the facts and applicable wording. Read claims guidance · Ask about the next step
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