| At DeSanctis, we have
the expertise to help you secure or increase
your bonding line of credit. Our staff’s
surety depth and experience is second to
none, with over 50 years of surety company
training you can rely on. Our bond producers
are cross-trained in the intricacies of
construction insurance and are backed by
a highly skilled underwriting staff, trained
by insurance companies and capable of resolving
the most difficult of insurance predicaments.
It’s our main goal to establish an
effective, long-term relationship between
you and your surety company. Since we have
solid relationships with a variety of surety
companies in a broad spectrum of markets
for both large and small contractors, we
are able to analyze your needs and requirements
to find the one that fits you best.
We offer:
- Fair deals – competitive
pricing
- Depth of experience
- Understanding of the
construction industry
- Prompt answers on bond
requests
From the markets that we represent, to
the people that we employ, to the support
programs that we have designed specifically
for contractors, we have one objective in
mind…to be New England’s best
contractor-oriented insurance agency. Contractor’s
bonding and insurance is our business and
we’re good at it.
We’d like to meet with you to discuss
your business and learn more about your
bonding and insurance needs. To arrange
a meeting, please contact us.
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| There are several
types of construction industry specific
bond programs including bid, performance
and payment bonds.
Bid Bond
– When submitting a public bid,
contractors are required to provide
a bid bond. Through the bid bond,
the project owner receives a guarantee
that, if awarded the contract, the
contractor will carry out the work
on project for the bid price. The
bond guarantees that the surety company
will pay the difference in the bid
price between the contractor and the
next lowest bidder in the event that
the contractor fails to fulfill the
contract.
Performance Bond
– Through a performance bond,
the surety company promises to pay
the project owner in the event that
the contractor does not successfully
complete the project in accordance
with the unique specifications provided
in the contract.
Payment Bond
– By issuing a payment bond,
the surety company guarantees that
the contractor will pay for all laborers,
supplies, etc. This type of bond helps
to protect the project owner against
liens if the contractor fails to pay
project-related expenses. |
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