We offer Consent of Surety for those seeking to participate in a project or tender requiring a Consent of Surety or Bid Bond. Obtain comprehensive contract bonding services with a diverse range of projects and contractors.
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Numerous bonding firms often reject applicants who don't meet their strict underwriting criteria. Not Us. We work in partnership with you to explore solutions that result in securing your approval.
While physical copies are still a requirement for many bonds, we actively minimize paper usage by offering digital versions of bonds and surety riders whenever possible.
While we engage with global surety enterprises for our bond guarantees, our origins are rooted in Canada.
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A Consent of Surety, also known as a Consent of Surety to Final Payment, is a document provided by a surety company to confirm that they have no objections to the final payment being made to the principal contractor upon the successful completion of a project. It is typically issued when the obligee (often the project owner) wants to ensure that all obligations and financial commitments have been met before releasing the final payment to the principal contractor.
The Consent of Surety acts as a confirmation from the surety company that they have fulfilled their obligations and have no further claims against the project. It provides a level of assurance to the obligee that the project has been completed according to the terms of the contract and that all parties are in agreement for the final payment to be made. It also guarantees the project owner involved in a tendered project that a Surety company will furnish the necessary bonds if a contractor emerges as the successful bidder (lowest bidder).
A Consent of Surety is essential for project owners to ensure that all contractual obligations and financial commitments have been satisfactorily met before releasing the final payment to the contractor. This document acts as a confirmation from the surety company that they have no objections to the principal contractor receiving the final payment. By obtaining a Consent of Surety, project owners can be confident that all parties are in agreement that the project has been completed in accordance with the terms of the contract, reducing the risk of potential disputes or financial issues after the project’s completion. Also, a Consent of Surety guarantees that bidding contractors possess the capacity to provide the additional bonds in case they secure the contract tender.
The cost of a Consent of Surety can vary based on factors such as the specific project, the nature of the contract, and the rates set by your Bond Facility. Generally, the cost of obtaining a Consent of Surety is either a nominal fee or included as part of the overall bond package.
Apply any time and get the right protection for your projects and tenders today! Please note that completing our application does not cost anything or require you to proceed with the bonding once a quote is provided – customer service is our priority.
We offer access to a standardized array of surety bonds, including:
