Chubb Surety - Construction Surety
Chubb’s long history and deep understanding of the construction industry allow us to offer a superior combination of products
and services. We have the capacity and global reach to support the largest contractors and the local knowledge and resources
to provide the middle-market with an outstanding combination of products and expertise. Here are some of the types of bonds
Performance Bonds: Bonds that assure that a contract will be performed according to its terms and specifications. In the event a contractor
defaults, these bonds generally obligate the surety to either finance the contractor, undertake the completion of the project,
tender a new contractor to the owner or pay the bond penalty.
Payment Bonds: Bonds that assure a contractor will make appropriate, prompt and full payments for labor and material consumed on a project.
Maintenance Bonds: Bonds that assure a project will remain free of defects in workmanship or materials for a specific period of time.
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