Surety Bonds In Lansing Mi | Loan Against Surety Bond
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Surety / BONDING

Value Proposition
We endeavor to be a resource to our clients and our “think outside the box” approach gives us the ability to find solutions to clients’ Surety and Bonding needs.  We are uniquely organized to handle the small account up to the large account and our specialized division offers one-stop shopping for our clients’ certificates and bonds.  Our long-standing relationships with insurance companies give us the flexibility to work with our clients and markets to come up with solutions to everyday w.c.  Whether a client’s needs are one-time bonds or multi-year facilities, we can tailor the right product to suit any need.

We have facilities for:

  • Construction
  • Manufacturing
  • Maid Services
  • Importers/Exporters
  • Technology
  • Insurance Brokers
  • Wholesalers

Type of Bonds we have Access to:

  • Agreement to bond or surety’s Consent
  • Labour and Materials Payment
  • Performance Bonds
  • Prequalification Documents
  • Bid Bonds
  • Maintenance Bonds
  • Fiduciary Bonds
  • Executor Bonds
  • Customer and Excise Bonds
  • Tobacco and Fuel Tax
  • License and Permit Bonds
  • Carnet Bonds
  • 3D Crime Bonds
  • U.S. Bonds

Our markets have granted us the ability to issue most bonds directly from our office. 
When time is of the essence, our quick turnaround will ensure our clients meet their deadlines.

 

COMMERCIAL SURETY BONDS

Customs Bonds:

Required by the federal government to guarantee payment of various duties, tariffs and taxes. The most commonly used customs bonds are as follows:

BOND TYPE

PURPOSE

License and Permit Bonds:

  • Consumer Protection Bond
  • Collection Agency Bond
  • Contractor’s License Bond

These bonds are used to qualify those who wish to obtain a licence or a permit to exercise a particular privilege or engage in a particular business. 

Licence and permit bonds guarantee compliance with the statute, by law or regulation under which the principal is compelled to act. 

The laws are meant to protect the public against incompetence, misrepresentation, fraudulent dealings, physical damage, or bodily harm.

Customs Bonds

  • Release of Goods Bond
  • Non-Resident GST Bond
  • Customs Brokers License Bond
  • Customs Bonded Warehouse Bond

Required by the federal government to guarantee payment of various duties, tariffs and taxes.

Excise Bonds Fuel Tax Bond

  • Tobacco Bond
  • Beneral Excise Bond

Customs and excise bonds are for the benefit of the federal government and guarantee that either taxes or duties or both will be paid by the principal when invoiced by the government.

Estate Bonds

Required by provincial courts from the executor of the estate of a deceased person. The bond guarantees that the executor will comply with the requirements of provincial estate law and the will.

Guardian Bonds

Required from the guardian of a person who is unable to manage their financial affairs, or of a minor. The bond is required by the provincial court or the provincial Public Guardian and Trustee Office.

Lost Instrument Bonds

Issued when an individual or company loses a certificate (stock, debenture, warrant, bond). In order for the issuing agent to issue a replacement certificate, a bond is required.

Carnet Bonds

Allows individuals and companies to temporarily take goods from Canada into foreign countries without paying import taxes.

CONTRACT SURETY BONDS

Customs Bonds:

Required by the federal government to guarantee payment of various duties, tariffs and taxes. The most commonly used customs bonds are as follows:

Surety’s Consent / Agreement to Bond

Required by the federal government to guarantee payment of various duties, tariffs and taxes. The most commonly used customs bonds are as follows:

Performance Bond

Required by the federal government to guarantee payment of various duties, tariffs and taxes. The most commonly used customs bonds are as follows:

Labour and Material Payment Bond

Required by the federal government to guarantee payment of various duties, tariffs and taxes. The most commonly used customs bonds are as follows:

Maintenance Bond 

Required by the federal government to guarantee payment of various duties, tariffs and taxes. The most commonly used customs bonds are as follows:

Lien Bond / Release of Lien Bond

Required by the federal government to guarantee payment of various duties, tariffs and taxes. The most commonly used customs bonds are as follows:

DEVELOPER SURETY BONDS

BOND TYPE

PURPOSE

Tarion Warranty Corporation Bond

Tarion ensures that builders abide by the Ontario New Home Warranties Plan Act and protects purchasers when developers fail to perform their obligations. 

The Tarion Bond guarantees each purchaser’s deposit up to $20,000 per condominium and provides the warranty protection required by Tarion. 

Developers benefit from a Tarion Bond since it eliminates the need to post a letter of credit or other type of security to Tarion.  

In addition, the first $20,000 of deposits are eligible to be released to the Developer to help finance the development of the project.  

The Tarion bond is very competitively priced in comparison to a letter of credit and can provide an inexpensive source of project financing.

Excess Condominium Deposit Insurance 

(ECDI) 

Condominium Deposit Insurance 

(CDI)

The Condominium Act requires that deposits paid by a purchaser to a condominium developer be held by a trustee. 

Deposits may be released to the developer so long as an ECDI or CDI policy is issued. These policies guarantee that the deposits will be repaid if the developer fails to deliver the purchaser’s condominium in accordance with the purchase agreement. 

ECDI policies are issued for condominium projects covered by the Ontario New Home Warranties Plan Act.  

The ECDI policy guarantees the return of the purchasers’ deposits in excess of the $20,000 guaranteed by the Tarion Bond. 

A CDI policy is issued for condominium projects that are not covered by the Ontario New Home Warranties Plan Act, such as: 

  • Commercial Condominiums
  • Office Condominiums
  • Retail Condominiums
  • Residential Condominium Conversions

Developers benefit from an ECDI and/or CDI policy since these products enable them to use purchasers’ deposits as a low-cost and easily-accessible source of financing for the condominium project. 

Subdivision Bonds

For large development companies that wish to provide bonds as an alternative to letters of credit to secure their residential development obligations to municipalities

Purchaser’s Deposit Bond

When purchasing a new condominium unit, substantial deposits are usually required by the developer.  The Purchaser’s Deposit Bond allows the purchaser to defer the payment of some of these deposits until the purchaser occupies the condominium unit.