Technical Updates

As technology continues to evolve, Western Surety Company resolves to be at the forefront and to keep our brokers apprised of any changes that might impact them. The following are technical updates of which you should be aware:

Liquidated Damages

To ensure that our high level of service aligns with the efficiency of Contract e-Services, Western Surety will be increasing the standard Liquidated Damages condition of your Broker authorization to $4,000 per day from the current $1,000 per day. This change will be effective immediately, and applies to all current and future authorizations in place.

E-Bonding

As more Public Owners are moving to an electronic tending process (recent notable examples include Defence Construction Canada and Manitoba Infrastructure) there has been an increased requirement for digital surety bonds (E-Bonds). Please be advised that Western Surety Company has the necessary platform in place to respond to the e-bonding needs of our business partners.

As parties to the e-bond, it is important for you, as the broker, and your contractor clients to discuss which e-bonding service provider best meet your needs. It is recommended that you participate in a demonstration of a selected provider’s e-bonding system before making a decision. It should be noted that your contractor clients will need to obtain a digital version of their corporate seal and signature in order to execute an e-bond.

If you wish to discuss the e-bonding process and the various options related to the e-bonding service providers, we encourage you to contact your regional member of our e-bond committee. We also recommend visiting the Surety Association of Canada’s website (www.surety-canada.com/en/ebonding/index.html) for a review of e-bonding and SAC’s assessment of the current service providers.

Western Surety Company’s e-Bond Committee Members are:

Atlantic Canada
Wes Benson
(902) 425-7422
wbenson@westernsurety.ca

Ontario
Cory Manchur
(647) 943-0541
cmanchur@westernsurety.ca

Western Canada
Greg Salmon
(306) 777-0698
gsalmon@westernsurety.ca

 

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