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Construction Lien Act: A Guide to Protecting Your Rights
A Canadian Surety Bond Perspective for Contractors and Developers. “Time is money” – something you’ll hear frequently in the Canadian construction industry. Delayed payments can spell disaster for some businesses. Whether you’re a general contractor, subcontractor, or supplier, understanding how to protect your right to payment is critical. That’s where the Construction Lien Act comes in. But what happens when a lien
The Beginner’s Guide to BC Bonds
The beautiful province of British Columbia is one of Canada’s treasures. Forestry, mining, construction, tourism; you can find it all in BC. As the province continues to develop, BC Bonds have become an essential tool
An Unseen Pillar: The Role of Surety Bonds in the Mining Industry
Mining, a foundational pillar of modern civilization, encompasses more than extracting Earth’s treasures. It’s a balance of benefiting from our planet’s resources while ensuring its restoration and protection. So, what is the role of surety
Top 10 Benefits To Bond Construction Projects
If you’ve been around the construction industry long enough, chances are you’ve come across surety bonds. Bonds play a pivotal role in ensuring projects are executed seamlessly and with the utmost professionalism. These financial instruments
Why Surety Bonds Are Not Insurance
In the risk management space, two terms that often intertwine are “surety bonds” and “insurance”. While they might share some similarities, they fundamentally differ in purpose, structure, and expertise required. Let’s delve into why surety
6 Tips On How To Get Bonded In Alberta
Understanding how to get bonded in Alberta is a pivotal step for businesses aiming to establish themselves in this dynamic province that fosters fair competition. Alberta’s diverse economic sectors, from construction to mining, importing and
How to Obtain an Electrical Contractor’s License in BC
In British Columbia, the electrical industry is governed by strict regulations to ensure the safety and well-being of its residents. Technical Safety BC, formerly known as the BC Safety Authority, plays a pivotal role in
What are the Requirements for a Surety Bond in BC?
Something that we’ll often get as a question from new clients is, what are the requirements for a surety bond in BC? Well, the answer will depending on what industry you’re operating in, what type
Bid Bond vs Performance Bond: Key Differences
This article will delve deep into the nuances of a Bid Bond vs Performance Bond, highlighting their key differences, real-world applications, and their broader implications in various industries. Whether it be in construction or the
How Does A Bond In Construction Work?
In the construction industry, where every project stands as a testament to innovation and collaboration, the shadows of uncertainty and risk linger. Enter surety bonds, a robust safeguard that fortifies projects, fosters trust, and empowers
What Is a Bid Bond? A Beginner’s Guide
In the world of contracts and procurement, you may have come across the term ‘bid bond’. It is a critical element in ensuring the smooth execution of contracts, especially in the construction and supply industries.