Bonding Insurance in Newmarket
We’ve Got You Covered
Newmarket Bonding Insurance with Oracle RMS
Are you a contracting and/or construction commercial business that is located in Newmarket? 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 Town of Newmarket, located north of Toronto, is home to a population of 84,000 people. Newmarket’s population has been steadily growing every year for the past 15 years at a rate of 1.87%. Newmarket is situated right between two very busy areas – the GTA and the Golden Horseshoe of Ontario. The construction industry in the city employs 3,485 people. As a smaller town that is quickly growing, construction projects are common. The Town of Newmarket posts the current infrastructure improvements and construction notices online to notify those who are interested in the town’s construction projects.
If you are interested in beginning a construction project in the Town of Newmarket, ensure you are in accordance with policies beforehand and then go online to begin the process. Furthermore, it is important for construction and/or contracting businesses in the Town of Newmarket 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 Newmarket, 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 Newmarket 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 Newmarket 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 Town of Newmarket
For a list of bid opportunities in the Town of Newmarket, click on this link: https://newmarket.bidsandtenders.ca/Module/Tenders/en
Some of the following bid opportunities in the Town of Newmarket include overhead door service, truck and compact vehicle rentals, environmental assessments, door operator supply and service, parking application systems, and basketball court construction.
The Town of Newmarket has an online bidding system that has some great features. It allows for users to receive a free preview of the town’s bid documents, prior to registering for a bid opportunity. This allows prospector bidders to have the information available that will help them determine if the bid opportunity is right for them-at no cost!
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.”