Bonding Insurance in Kitchener
We’ve Got You Covered
Kitchener Bonding Insurance with Oracle RMS
Are you a contracting and/or construction commercial business that is located in Kitchener? Are you looking to include surety bonding insurance with or for your upcoming projects? If so, you should know how important it is to work with a licensed broker with the right expertise and knowledge of the complexity of the bonding market.
The City of Kitchener, located in southern Ontario, is home to a population of 233,222 people. This population has been growing at a rate of 1.5% every year for the past 15 years. Kitchener is a business hub recognized in Canada for its innovative programs and many thriving businesses. Due to its close proximity with the United States border, Waterloo, Cambridge and Ontario’s international airports, the City of Kitchener’s businesses serve many surrounding areas. Kitchener is steadily growing and there are multiple construction projects within the city to further advance and grow Kitchener’s economy. The purchasing bylaw of the City of Kitchener states the rules and policies to continue providing a procurement process that is fair, transparent and open for all bidders.
Their online bid and tenders system makes it simple and quick to open and close bid opportunities and search for awarded bids. If you are interested in beginning a construction project in the City of Kitchener, read over the bylaws to ensure you are in accordance and then go online to begin the process. Furthermore, it is important for construction and/or contracting businesses in the City of Kitchener and surrounding areas to have bonding insurance. Bonding insurance can protect owners and suppliers during a construction project and protect you, your business and the overall project as a whole.
Once you have successfully purchased bonding insurance, you may now officially begin bidding for potential projects that can be within your region or city. It should be noted that bonding insurance includes two common forms of surety bonding:
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.Whether customers are shopping for a better bonding insurance policy, are informed about their upcoming bonding policy renewal or are looking to save money on their current policy, overall, it is important to be informed about bonding insurance and how a policy works.
The Right Coverage For You
At The Best Price
In Need of Insurance for Bonding? We Have You Covered
In Kitchener, when you purchase Bonding Insurance with Oracle RMS, we’re certain that your bond facility is current as we are constantly monitoring changes within the construction industry. In addition, we provide specialized bond facilities which separate us from a general insurance brokerage.
By partnering with Oracle RMS, we provide excellent customer service and work hard to get you the lowest bonding insurance rates in Kitchener that best suit your unique needs. We are proud to be partnered with a wide range of specialty bonding insurance companies who can provide a variety of bonding facility insurance quotes for all Kitchener business owners.
At Oracle RMS, you will work along with one of our licensed brokers to help guide you through the quoting process. They will make sure you understand all the insurance jargon and information up to the last detail of your home policy before you’ve made the final decision.
Bonding Facts in the City of Kitchener
For a list of bid opportunities in the City of Kitchener, click on this link: https://kitchener.bidsandtenders.ca/Module/Tenders/en
Some of the following bid opportunities in the City of Kitchener include sewer cleaning, parking garage, sewer repair services, professional road reconstructions, and aluminum forestry tools.
For those who live in the City of Kitchener or for suppliers interested in doing business with the city, there is a construction schedule available online. The schedule is separated into categories: Road and utility reconstruction projects, asphalt multi use trail and concrete sidewalk infill, bridge rehabilitation projects, sanitary network remediation and improvements and stormwater network remediation and improvements.
Getting insured is quick and easy!
Bonding insurance is what you need, request a free online quote now.
Words From Our Customers
“I’ve used Oracle RMS for my insurance for years and years. Very knowledgeable and helpful. Chris Masucci gave me honest advice about my insurance options and helped me choose the best coverage for my needs. He is friendly and super responsive if I have any questions. Would recommend!”
“I purchased my first car a year and a half ago and called Oracle for an insurance quote. They have excellent customer service – in particular, Chris was very helpful in getting me a great rate. He is extremely prompt at answering any questions I have about my policy and about anything insurance related! I highly recommend this brokerage.”