Crumbling Foundation Bonds

Crumbling foundations in Connecticut have been the source of news for some time now, as homeowner’s look to ensure the safety and health of their homes and foundations.

If you are going to be working with homeowners on this issue, you will first have to provide a Deposit Security Bond with $250,000 as a minimum amount. This bond form has been approved by the Connecticut Foundation Solutions Indemnity Company (CFSIC) and issued to contractors who meet Bond Company credit and underwriting requirements.

Call 800-811-5557 to dicuss this bond with our team.

Qualifications of a Claimant for the CFSIC Program

Below are the qualifications a homeowner should meet before filing for a claim:

• Visual inspections that must be performed by a CT licensed professional engineer (PE).
• The home was built between January 1, 1983, and December 31, 2015.
• The home has to be within Connecticut and within a 20-mile radius of the J.J. Mottes Concrete Company in Stafford Springs.
• Any testing conducted by the homeowner by a professional will be reimbursed (Core testing: 50%, up to $2,000, Visual testing: 100%, up to $400).

There are two types of claims that are applied for:

Type 1 Claims

This is where the homeowner’s foundation is badly ruined. This is a provision for them to seek financial assistance for foundation replacement.

Type 2 Claims

This is the type of claim that is made by a homeowner if they have replaced the foundation, in part or in whole, meeting the set guidelines.

If your company meets the standards of the Capitol Region Council of Governments, you may be eligible to participate in the CFSIC program.

For more information about the CFSIC Program, visit the CFSIC website.

At Metayer Bonding Associates we offer Surety Bonds for Contractors throughout the Northeast including a heavy concentration of clients in Connecticut. We can help you obtain this bond. In order to get started, please fill out the form provided here and we will contact you shortly.

Bond Companies

Listed below are examples of the bond companies we work with.

SEE WHAT OTHER CONTRACTORS & CONSTRUCTION COMPANIES SAY ABOUT US

“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.”

BRIAN NICKERSON, CHAIRMAN OF THE BOARD
C.H. NICKERSON & CO., INC.
TORRINGTON, CT

“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.”

JEFFREY CLEMENT, PRESIDENT
MODERN MECHANICAL SYSTEMS, INC.
FARMINGTON, CT

“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.”

RANDALL M. SALVATORE, FOUNDER & PRESIDENT
RMS COMPANIES
STAMFORD, CT