E-Bonds…We’re Ready…Are You??

To Our Brokers:

As many of our broker and contractor clients are aware, over the past several years there has been a growing trend by construction owners to automate the bidding process. Recently, it was announced that Defence Construction Canada as well as various municipal and provincial bodies (e.g., York Region, ON and the City of Guelph, ON) will be moving (or have already moved) towards electronic bidding platforms. These include the requirement to deliver electronic surety bonds. We wish to advise that Western Surety Company is well positioned to respond to the e-bonding needs of our business partners.

In response to the need for automation, various third party providers have developed e-bonding systems. We encourage you to visit 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. Please note that Western Surety Company does not endorse or promote any one system.

As parties to the e-bond, it is important for you and your contractor clients to discuss which e-bonding service provider best meet your needs. Each will offer differing automated processes and fee structures. It is recommended that you participate in a demonstration of a selected provider’s e-bonding system before deciding. It should be noted that your contractor clients will need to obtain an electronic version of their corporate seal and signature in order to execute an e-bond.

Going forward, we encourage you to contact your regional member of our e-bond committee to discuss the e-bonding process and the various options related to the service providers.

The 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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