Bonds for Contractors
Build the future with confidence!
Bonds for Contractors
Our large pool of contractors allows us to offer the best prices on the market as well as exclusive products to construction contractors.
Our expert specialists will advise you free of charge.
RBQ bond
Unless you only hold subclasses 1.1.1 or 1.1.2, you must have a license bond to compensate your customers for harm.
License security is mandatory .
The license bond is a financial guarantee to guarantee the execution of your contractual obligations towards your customers.
It aims to compensate any customer following the non-execution or execution of construction work and resulting directly from the instalments paid, the non-completion of the work, poor workmanship and defects discovered within one year following the end of the works.
The amount required is $20,000 for specialized contractors and $40,000 for general and civil engineering contractors.
GCR bond for new buildings
Holders of subclasses 1.1.1 and / or 1.1.2 you must have a GCR bond to compensate your customers in the event of damage.
Since January 1 , 2015, any company wishing to build or sell new residential buildings covered by the Regulation respecting the guarantee plan for new residential buildings must be accredited for the Garantie de construction residential (GCR) .
The GCR bond is mandatory .
The purpose of this guarantee plan is to ensure the fulfillment of certain legal and contractual obligations on your part. Thus, as the buildings are covered, your client will benefit from protections and indemnities.
This plan offers buyers of new homes or condominiums a guarantee on your contractual obligations, including down payments, and a guarantee against construction defects.
The license guarantee (mentioned above) is not required if you exclusively hold subclasses 1.1.1 and/or 1.1.2 since your legal and contractual obligations are already covered by the mandatory guarantee plan. If other general or specialized contractor subclasses are mentioned in your licence, the license bond is then payable in addition to the guarantee plan.
Other guarantees
We offer the various guarantees required such as:
- Bonds for the Régie du bâtiment du Québec (RBQ)
- Bonds for the New Residential Building Guarantee (GCR).
- Bid bond
- Performance bond
- And more …
Our expert specialists offer you solutions adapted and personalized to your project for the most complete protection.
By phone:
1 (866) 626-8055
Have you registered for one of our training courses?
Mention it to our specialist and you could get further discounts on your insurance products.
OUR DEDICATED TEAM IS AT YOUR DISPOSAL
Because we believe that to be the best you have to learn from the best!
Are you hesitating? Can we meet your expectations? Check it out right away
FORMATION CONSTRUCTION MD
1250 René-Lévesque Boulevard West Suite 2200, Montreal, H3B 4W8
Everywhere in Quebec
Bonds for Contractors
Our large pool of contractors allows us to offer the best prices on the market as well as exclusive products to construction contractors.
Our expert specialists will advise you free of charge.
RBQ bond
Unless you only hold subclasses 1.1.1 or 1.1.2, you must have a license bond to compensate your customers for harm.
License security is mandatory .
The license bond is a financial guarantee to guarantee the execution of your contractual obligations towards your customers.
It aims to compensate any customer following the non-execution or execution of construction work and resulting directly from the installments paid, the non-completion of the work, poor workmanship and defects discovered within one year following the end of the works.
The amount required is $20,000 for specialized contractors and $40,000 for general and civil engineering contractors.
GCR bond for new buildings
Holders of subclasses 1.1.1 and / or 1.1.2 you must have a GCR bond to compensate your customers in the event of damage.
Since January 1 , 2015, any company wishing to build or sell new residential buildings covered by the Regulation respecting the guarantee plan for new residential buildings must be accredited for the Garantie de construction residential (GCR) .
The GCR bond is mandatory .
The purpose of this guarantee plan is to ensure the fulfillment of certain legal and contractual obligations on your part. Thus, as the buildings are covered, your client will benefit from protections and indemnities.
This plan offers buyers of new homes or condominiums a guarantee on your contractual obligations, including down payments, and a guarantee against construction defects.
The license guarantee (mentioned above) is not required if you exclusively hold subclasses 1.1.1 and/or 1.1.2 since your legal and contractual obligations are already covered by the mandatory guarantee plan. If other general or specialized contractor subclasses are mentioned in your licence, the license bond is then payable in addition to the guarantee plan.
Other guarantees
We offer the various guarantees required such as:
- Bonds for the Régie du bâtiment du Québec (RBQ)
- Bonds for the New Residential Building Guarantee (GCR).
- Bid bond
- Performance bond
- And more …
Our expert specialists offer you solutions adapted and personalized to your project for the most complete protection.
By phone:
1 (866) 626-8055
Have you registered for one of our training courses?
Mention it to our specialist and you could get further discounts on your insurance products.
OUR DEDICATED TEAM IS AT YOUR DISPOSAL
Because we believe that to be the best you have to learn from the best!
