Metayer Bonding Associates Provides Contractor Bid Bonds for Construction Projects
Public Statutes which authorize the letting of Public Contracts usually require that a Bidder shall evidence their good faith by filing with their bid a Bid Bond from an acceptable Surety Company.
The Bid Bond represents that they will enter into the contract if it is awarded to them, and provide the required Performance & Payment Bonds. If a Bidder is awarded a contract but elects not to enter into contract, the Bid Bond obligates the Surety to pay the difference between the contractor’s bid and the bid of the nearest acceptable bidder to a maximum of the Bid Bond Penalty, whichever is lower.
A Bid Bond is usually required in a penalty which is small in relation to the contractor’s bid, generally from 5 percent to 30 percent. Bid Bonds help to prevent contractors from submitting frivolous or inappropriately low bids to win a contract.
Metayer Bonding Associates Provides Complete Confidence Managing Your Bond Program
Listed below are examples of the bond companies we work with.
“Metayer Bonding Associates has done an excellent job handling our bonding needs for the past twenty years. We were a small but growing contractor in NYC when Mike and his company first became involved. They have provided us with numerous bonds since… across the country, and just recently supported a $800mm High-Profile, Complete Building Conversion down in the heart of Wall Street. There are many difficult aspects about doing construction in NYC. Metayer Bonding Associates well understands this and is very adept at making certain that all of our bonding needs are handled in a prompt, professional fashion. We would highly recommend Metayer Bonding Associates to any contractor looking to improve upon their present bonding arrangement.”
“Our company designs and builds food processing facilities. Mike and the entire staff at Metayer Bonding Associates understands our specialized business. Mike, Anne, and Lisa show the same enthusiasm whether we are working on a $9,800,000 bond for our Rodeo Drive project in Beverly Hills, CA or our most recent $92,000 contract for the Sabritas Plant in Celaya, Mexico. They know all the right questions to ask to satisfy the bond company and with Mike's recommendation bonds are issued seamlessly. After almost 15 years, we have a great deal of trust in Metayer Bonding Associates and with them as a partner we know we are in the best hands.”
“We have known Mike Metayer for over 20 years dating back to his days in the Surety Home Office of Travelers/Continental. We are very comfortable with the service and expertise that Metayer Bonding Associates provides as it pertains to our bond program. They make the overall surety relationship between the contactor and bond company flow as smoothly as possible.”
“Mike Metayer & Metayer Bonding Associates have handled all of our bonding and surety business since our inception over 20 years ago. Over these years we have utilized their services for bonding of municipal and government-funded projects, completion guarantees for large infrastructure components for our development projects as well as municipal and state bonding requirement for construction performed by our excavation subsidiary. In all instances, Mike and his staff were responsive to our requests and executed on all commitments required for our company. I would strongly recommend Metayer Bonding Associates to any contractor requiring bonding services.”
“Our company has worked with Metayer Bonding Associates exclusively since the day Mike Metayer started his business. He understands both the complex nature of the construction industry and our specific needs for bonding. Mike has always been able to work with us and his bonding underwriter so that we have never been refused a bond for any project that we felt capable of handling.”
“As a private Site Contractor in NJ, we have always relied on Metayer Bonding for their excellent, transparent, knowledgeable service. Mike and his staff are extremely professional and treat our Company so respectfully, despite being a very small client. It is without hesitation we recommend Mike and his team and look forward to working with Metayer Bonding for a very long time.”