Understand the complexities of the bond market while shopping for surety bonds.

When looking for surety?bonds, it’s important to have a broker that understands the complexity of the bond marketplace. At Oracle RMS, providing specialized bond facilities separates us from a general insurance brokerage. We’ve earned our reputation in providing superior service and specialist knowledge. We’re certain that your bond facility is current as we are constantly monitoring changes within the construction industry.

At Oracle RMS, we provide the two most common forms of surety bonds:

Construction Contract Surety Bonds: One of the most common forms of bonding used in a construction setting. It is set in place to protect owners and suppliers from the consequences of a contractor defaulting on a project. Such bonds are a guarantee from the Surety to a project Owner that the Contractor will follow the direction of the contract. Bonds that are used most often are the Bid bond, Performance Bond and Labour and Material Payment bond.

Commercial Surety Bonds: These types of bonds guarantee that any government body, financial institution, or private corporation’s security requirements are adhered to and that any financial risk is protected via legal compliance by the principle. Monetary losses, fraud, and/or misrepresentations are a few areas that offer protection to the end-user.

Our surety bond services provide:

• Advice on contract reviews, current surety procedure, and bond company appetites.
• Power of Attorney and in-house bond authority to issue bonds in time-sensitive environments
• Internally underwrite our contractor’s bonding programs in order to maximize your bond facility
• Strong relationships and access with all major bonding markets
• Creative solutions to tailor your bonding requirements with respect to larger and specialized projects, bonding of sub-trades, joint ventures and bond claim handling/disputes