Blanket Bond	QuickBond	Traditional Bond Facility
Bond Form	This is a copyrighted document which is issued on a blanket basis which means if you have 3 or 4 qualifying projects with the same owner they would all be covered by one bond. This is a new product and approval from each owner must be sought to accept this bond. This is often a lengthy process taking many months. Call us to inquire if the owner you wish to deal with has accepted this bond already	CCDC standard bond form	CCDC standard bond forms or acceptable owners forms
Cost	$350/year paid by credit card at the time of online order	Prequalification Letters $100 Bid Bonds and Agreements to Bond $150 Contract Bonds:   50% 100% Performance $12 $15 L&M Payment $8 $10 Multiply the contract price by either the 50% or 100% rates required in the spec. Subject to a minimum premium of $400 - paid by credit card at the time of online order	An annual charge of $1500 Annual Bid Deposit Premium which covers all prequalification letters and tender bonds Plus a further charge when performance and or labour and material payment bonds are issued dependent upon a number of factors but typically:   50% 100% Performance $8 $11 L&M Payment $6 $8 Subject to a minimum premium of $400 - paid by credit card at the time of online order
Projects Included and Excluded	Project Size: Under $100,000 Included: roadwork, sewer & watermain works, electricity and gas services, janitorial services, street lighting and traffic signals, buildings and bridges Excluded: contracts that predominantly consist of the provision of non-construction services, including snowplowing services, waste pickup, removal and transportation services, security services and the development of land	Project Size: Under $300,000 Project location must be less than 150 miles from company office. Cannot subcontract more than 50 percent of the contract price. Bid results must be within 10 percent. Completion time must be 12 months or less. Maintenance/Warranty term must not exceed one year. Liquidated damages cannot exceed $750 per day. Excluded(including subcontracted portions): asbestos, underground storage tank, lead remediation, environmental of any type, curtain wall, subdivision/development, completion guarantees.	Determined when all required documentation is underwritten
Approval Process	An acceptable credit report	An acceptable personal credit report Credit scores of at least 600 no more than 3 late pays of 45 days or less within the last year no late payment of more than 60 days no liens, past dues, suits or judgments or bankruptcy filings. Total personal credit outstanding (excluding house mortgage) cannot exceed 0.3 times indicated salary level (e.g., salary of $100,000 -- total debt cannot exceed $30,000). No more than 3 credit checks in previous 12 months. At least 5 years prior construction experience (foreman level or higher) prior to this company. Current company in business at least 12 months.	Year End Financial Statements for the operating company and any related companies for the past 3 years with aged listing of accounts receivable and payable and work on hand schedule Personal Financial Statements of all shareholders Copy of bank Terms & Conditions Letter 5 page Application Form Brochures, reference letters Recent inhouse month end statement with aged listing of accounts receivable and payable and work on hand schedule
Reporting	none required	none required	Month end inhouse statement with aged listing of accounts receivable and payable and a work on hand schedule on a quarterly basis Year End Statements on a Review Basis with aged listing of accounts receivable and payable and work on hand schedule Updated Annual Bank Terms & Conditions Letter Updated Annual Personal Financial Statements