MAINTENANCE BOND

Maintenance Bonds provide security to the project Owner, “Obligee”, that the Contractor or “Principal” will maintain and repair the project according to the terms of the contract for a specific period of time after its completion.

Lien Bond / Release of Lien Bond

Lien Bonds provide security to the court, or “oblige” that a contractor, or “principal”, will honour claims made by its suppliers and sub-contractors for payments owed to them for work completed on a project, in the event that the court determines that such claims are valid.