Surety bonds for contractors
Get the support you need to guarantee the success of your project
Our Unique services
- Available for small- to medium-sized businesses
- Team dedicated to Bureau des soumissions déposées du Québec contracts
- NEW! Pronto service for surety applications for small construction projects.
Types of surety bonds
- Bid bond
A bid bond is the instrument by which the surety, in the event that the contractor refuses to sign a contract with the client, will make the client a cash payment—up to the amount stated in the bond—to cover the difference between the amount of the bid and the amount of the contract signed with another bidder, if the latter amount is higher.
- Letter of commitment
A letter of commitment is often complementary to a bid bond. It is the instrument by which the surety undertakes to issue the required sureties in the bidder's name, if the bid is accepted and the bidder signs a contract with the client.
- Performance bond
A performance bond is the instrument by which the surety undertakes—up to the amount stated in the bond—to guarantee completion of the contract in the event that the contractor is unable to honour the terms of the construction contract.
- Labour & material payment bond
A labour and material bond is the instrument by which the surety guarantees that all eligible claimants, whether subcontractors or suppliers, will receive payment for labour and material provided to the contractor in the framework of the construction work.
- Maintenance surety
A maintenance surety is the instrument by which the surety guarantees to maintain in good working order or have maintained in good working order the work completed under the contract, except for obsolescence or normal wear.
Advantages of dealing with L’Unique for your surety bond applications for small construction projects:
- Quick and easy service and handling
- Faster and more efficient for brokers and contractors, due to simplified forms and fewer documents to be submitted
- A team dedicated to analyzing surety bond applications
- A timely response following file analysis by our dedicated team
Complete this form to benefit from the Pronto service.