COVID-19: Information for our clients
When your business involves working with contractors and taking bids on projects, you need to be able to rely on the numbers being quoted to you. Bid bond insurance in Guelph is the answer to that need. This type of insurance is specifically designed to ensure that once you've accepted a bid in good faith, you won't be left hanging if the contractor suddenly changes the agreed upon bill.
Most contractors and professionals behave ethically and reliably, quoting estimates as accurately as possible and being upfront and direct about any potential cost overruns. However, there are always exceptions to be found. You don't want your business held up mid-project for a sudden increase in fees once a bid and a price has already been established.
In this way, bid bond insurance protects both parties. As long as the contractor is providing an accurate quote, they shouldn't have any problem with being held to that number. Any assurance you take should be welcome as additional commitment to the deal on both ends.
At Staebler Insurance, we've been protecting businesses for more than 140 years. In that time, we've heard all kinds of horror stories of projects gone awry and predatory contractors entering bids they had no intention of adhering to. Make sure your business doesn't become one of these sad cases, call one of our brokers about bid bond insurance in Guelph today.