Consent of Surety

If you’re looking to bid on a project or tender that requires a consent of surety, you’ve come to the right place! We provide full contract bonding services to our clients for all types of projects. In order to obtain the ability to provide a consent of surety, you’ll require what we call a bond facility. Learn more below and apply today!

Consent of Surety

What is a Consent of Surety?

A Consent of Surety (sometimes also called Agreement to Bond or Sureties Consent) is a document used when bidding on a contract tender. It is often used in conjunction with a Bid Bond (but, sometimes on its own) to guarantee the owner that the Surety will issue the required “Final Bonds” (commonly 50% Performance and 50% Labour & Material Payment Bonds) for a specific project within the time frame designated, once the bidder / contractor has been awarded a job.

Why do I need a Consent of Surety?

A Consent of Surety is required by many project owners for substantial sized jobs (usually > $50,000) including private and municipal contracts. From the owners perspective, requesting a Consent of Surety will ensure that the contractor with the most competitive bid will also be able to provide a Performance and/or Labour & Material Payment Bond should they be successful in the tender process.

How much does it cost?

The cost of a Consent of Surety will depend on the type of Bond Facility you’d like and which of our options would be most beneficial and cost effective for your company. We are able to issue a Consent of Surety in conjunction with a Bid Bond for a specified project at no additional cost, or on its own for anywhere from $0 – $250 each, depending on facility options, financial standing, and other variables.

The Ability to obtain any contract bonds (including a Consent of Surety), as stated above, is part of an annual subscription called a Bond Facility which is typically in the range of $1,500 – $5,000 per year.