Surety & Bonds

Get bonded and assure your clients of your quality service.

Overview

Give your customers the confidence they deserve by taking their relationship with you to the next level – obtain a surety bond. With this assurance of quality service, clients will be certain that you are running an honest business and can depend on partnering up with an experienced provider like yourself. Strengthen your reputation as one who consistently provides exceptional customer care!

Who needs it

Surety bonds are typically required for businesses or individuals who want to bid on or perform certain types of contracts or services.

Industries That Commonly Require Surety Bonds

Staffing / Employment Agencies – Due to recent Canadian government regulatory changes, certain agencies recruiting or placing workers under federal programs must maintain a minimum $25,000 surety bond.
Construction Contractors – General contractors, subcontractors, and specialty trades bidding on public or private construction projects.
Transportation Companies – Long-haul and cross-border trucking companies hauling goods across Canada and the United States.
Freight Brokers – Brokers arranging transportation of goods who must demonstrate financial responsibility and contractual compliance.
Importers & Exporters – Businesses importing or exporting goods that must guarantee payment of customs duties and taxes.
Public Notaries – Notaries who require bonding to protect the public against errors or omissions.

Payment Bond – Ensures a contractor pays subcontractors, suppliers, and others involved in a construction project.
License and Permit Bond – Guarantees that a business or individual complies with laws and regulations related to licensed activities.
Court Bond – Guarantees payment of a judgment or other court-ordered obligation if the responsible party fails to pay.

What's Covered

A surety bond is a type of financial guarantee that is used to ensure that a party meets its contractual obligations. The coverage provided by a surety bond depends on the type of bond and the terms of the contract.

Bid Bond – Ensures a contractor will enter into the contract and provide required performance and payment bonds if awarded the project.
Performance Bond – Guarantees the contractor will complete the project according to contract terms.
Highway Carrier Bond – Required for certain transportation companies to ensure compliance with regulatory and contractual obligations.
Freight Broker Bond (BMC-84) – Required for freight brokers operating in the U.S. to guarantee payment to motor carriers and shippers.
Staffing Agency / Employment Agency Bond – Certain agencies placing workers under Canadian government programs must maintain a minimum $25,000 surety bond to meet regulatory requirements.

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Always protected with Sterling

We give you the coverage, expertise and support you need to protect you and your business with confidence.