A contractor’s bond program is a critical component of his business. Kinney Pike specializes in planning, facilitating and optimizing the surety bond relationship and personalized construction bonds. We work closely with our clients to understand their short and long-term business plans, and develop a program exclusively for their needs.
A Construction Surety bond is a written agreement where one party, the surety, obligates itself to a second party, the obligee, to answer for the default of a third party, the principal. There are two categories of surety bonds:
- Contract Surety Bonds provide financial security and construction assurance on building and construction projects by assuring the project owner (obligee) that the contractor (principal) will perform the work and pay certain subcontractors, laborers, and material suppliers.
- Commercial Surety Bonds guarantee performance by the principal of the obligation or undertaking described in the bond.
Our Construction Insurance Specialist has in-depth experience in the construction industry with extensive knowledge of surety and construction bonds. We develop a close working relationship with our construction clients, as well as industry carriers, to secure the exact coverage needed. Our specialist is on the jobsites with small Vermont companies and large construction companies to better understand what exact types of coverage and bonds may be required throughout the duration of the project to ensure it’s completed according to contract. We believe in earning our clients’ business, as well as the title of a “trusted advisor” to our clients.