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and Surety


At McFarlan Rowlands, we understand that having adequate construction insurance and contract surety bond coverage is essential to ensuring our clients peace of mind. With over 100 years in the industry, McFarlan Rowlands has the experience and industry presence to offer our clients the best comprehensive insurance coverages at the most competitive rates.


100 + Years
of Industry


A surety bond is a three-party agreement among an obligee, a contractor, and a bonding company. The surety bond protects the obligee against losses resulting from the contractor’s failure to meet some obligation such as fulfilling the terms of the contract agreement.




Terms and coverages described are intended for general reference. For specific terms and coverages, please refer to your policy.

Construction & Surety Insurance at a glance:
  • Bid Bond/Tender Bond: Is used when a contractor is bidding on a tendered contract. The Bid Bond prequalifies the contractor and provides security to the obligee that the contractor will in fact enter into the contract if it is awarded.
  • Surety’s Consent: A surety’s consent provides a guarantee to the obligee that if the contractor is awarded the contract then the surety will issue the required final bonds in support of the contractor.
  • Performance Bond/Final Bond: The performance bond guarantees to the oblige that should the contractor fail to perform the contract, the surety will either complete the contract, pay for the cost of completion in excess of the contract price or pay the bond penalty.
  • Payment Bond/Labour and Material Payment Bond: The payment bond provides security to sub-contractors and suppliers that they will be paid according to the terms of their contracts.
  • Maintenance Bond: Provides security to the obligee that the contractor will maintain and repair the project according to the terms and conditions of the contract.
  • Supply Bond: Provides security to the obligee that certain materials will be delivered by the contractor according to the terms of the signed contract.

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