For construction contractors who must comply with the Régie du Bâtiment du Québec (RBQ), the purpose of a surety bond is to indemnify any client who has suffered prejudice as a result of the non-performance or completion of construction work and is the direct result of deposits paid and non-completion of work.
- The amount of the bond required is $20,000 for specialized contractors and $40,000 for general contractors.
Obtain both an RBQ bond offer and an insurance offer at the same time, now possible with APRIL
An incentive for consumers to do business with a licensed contractor and the opportunity to benefit from increased protection by having their work performed by a licensee who guarantees the meeting of contractual obligations
- The RBQ bond is mandatory for the majority of construction contractors
RBQ bonds available for a period of one or two years
What the RBQ Bond Does Not Cover
- Claims of persons who participated in the construction work
- Compensation for damages resulting from a delay in the execution of construction work
- Compensation for pain and suffering and punitive damages
- Bodily injury or property damage to third parties as a result of the insured’s activities (generally covered by the public liability insurance policy or the additional coverage of APRIL’s offer)
Surety Bond – Simplified Form
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Surety Bonds Offer in Compliance with the RBQ
Alfa Insurance Brokers
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Cambrian Insurance Brokers Ltd
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Lakeview Insurance Brokers
APRIL simply is insurance made easy.