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Arranging and Maintaining Your Bonding Facility (Webinar)
Suretyship has been a valuable tool dating back to 2750 BC and is used around the world to help secure the bid process and contract performance in the Construction Industry.

While Surety has been around for a long time we are still seeing innovations and expansion of its utilization. Over the last few years, more public and private owners have begun utilizing bonding including a significant uptake in E-Bonds (that is Digitally Verifiable Bonds). Case in point is Bill 142 in Ontario which was put into place late 2019 as part of prompt payment legislation and contained a requirement for any provincially funded projects over $500K to be bonded. Here in BC the BC Law Institute completed a review of the Builders Lien Act in July 2020 and recommended the use of Holdback Bonds instead of cash funds.

Be prepared to get ahead of your future bonding requirements by attending this seminar to ensure you have a good understanding of what the process entails. If you already have a bonding facility in place this seminar will ensure you have a better understanding of what the Surety looks at when making their decisions.

In this seminar, we will go over everything you’ll need when setting up your bond facility, how your broker fits into the process and understanding the Surety’s underwriting appetite. We will also touch on the costs and benefits of maintaining a bonding facility along with the basic types of bonds.

Approved for 1 CPD Point with BC Housing!

Dec 15, 2021 09:30 AM in Vancouver

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Speakers

Mathew Binkle
Principal @Wilson M. Beck Insurance Services (FV) Inc.
With over 19 years of surety experience, Mathew is a Principal and Client Executive at Wilson M. Beck Insurance Services. He is a Canadian Accredited Insurance Broker (CAIB) and has held client executive positions at several brokerages always specializing in contract bonding and insurance for commercial contractors. He and his team handle a broad portfolio that includes General Contracting, Civil Contracting, Electrical Contracting, Mechanical Contracting, Commercial & Residential Development and Manufacturing. Mathew is actively involved with the Surety Association of Canada and has presented seminars to various municipalities, contractors, and associations including the BC Risk Insurance Management Society.