“Mike at Metayer Bonding Associates has covered our bonding needs since our company’s inception. Mike and his team have a can do attitude. We know we represent a very small portion of Mike’s business, but we feel like his most important customer. They understand the construction industry and our specific needs for bonding. We recommend Metayer Bonding Associates to anyone wanting to significantly improve their current Bond Program”
Donal McIntyre, President
Wesbuilt Construction Managers LLC
NYC
ENR 2022 New York Contractor of the Year
Connecticut Performance and Payment Surety Bonds
PROVIDING PERFORMANCE AND PAYMENT BONDS IN CONNECTICUT AND THE SURROUNDING AREA
Doing business in Connecticut presents challenges for many different industries, and the construction space is no exception. Finding the right company you can trust for all of your surety bonding needs can prove difficult in a small but competitive state. Metayer Bonding Associates, based in Avon, CT, offers you the experience you need to ensure the managing of your performance and payment bonds is a seamless, pain-free process for you.
Serving Connecticut and the surrounding area since 1996, Metayer Bonding Associates’ strategic partners include 18 of the top, most reputable and competitive surety companies in the United States today.
Whether you are looking for performance and payment bonds for projects that are small in scope or as large as $1 billion, Metayer Bonding Associates is the construction surety bond team you need.
Make Your Bids More Competitive in the Connecticut Construction Industry with Performance and Payment Bonds
The Connecticut construction industry is a complex and dynamic sector with its own unique characteristics. With construction employment around 60,000, according to BuildConnecticut, Connecticut’s construction employment has remained fairly consistent over recent years. These construction professionals are usually employed at small companies whose use of surety bonding enables them to bid on public projects and grow their businesses.
What sets the best of these small construction companies apart from the crowd? The most forward-thinking Connecticut-based small to mid-sized construction firms partner with reputable surety agencies for the managing of performance and payment bond program.
Michael F. Metayer, President & CEO
One Wall Street Building Conversion: Project Bond Amount $940MM
How Do Performance and Payment Bonds Help Connecticut Construction Firms?
Connecticut law requires that performance and payment bonds be provided to the obligee for all public projects. Though the purchase of these bonds is optional for private projects, wise general contractors recognize their value and include them with every proposal they submit.
Performance and payment bonds provide Connecticut Owners with complete peace of mind that they are working with a company that is reputable, experienced, and committed to high quality, honest work.
How does a performance and payment bond work?
A payment bond and a performance bond work hand in hand. A payment bond guarantees a party pays all entities, such as subcontractors, suppliers, and laborers, involved in a particular project when the project is completed. A performance bond ensures the completion of a project.
Whether a public project or a private one, offer your customers something other companies may fail to with competitively priced and comprehensive performance and payment bonds from Metayer Bonding Associates. One of the finest examples in the surety bond industry, Metayer Bonding Associates makes securing the right bonding strategy efficient and effective for you.
With more than 27 years in the surety industry to our credit, the staff at Metayer Bonding Associates has the experience you require for all your Connecticut bonding needs, no matter the size or scope of your bid.
What are the Benefits of Performance and Payment Bonds for Connecticut Private Projects?
The voluntary purchase of performance and payment bonds for your CT private construction projects gives you an advantage over your competition. P&P bonds from Metayer Bonding Associates offer you and your clients:
- Complete peace of mind
- Trust in your company’s integrity and reliability
- Work completion guarantee
- Commitment to meeting industry standards
- Exceptional quality work
- Subcontractor payments in full
Related Questions
What is the difference between a performance bond and a payment bond?
A performance bond secures the Connecticut contractor’s promise to perform in accordance with the terms of the construction contract, at the agreed-upon pricing including their costs. A payment bond protects certain laborers against nonpayment from contractors for work done or services rendered. That is the difference between performance and payment bonds. These 2 bonds, provided during the construction bidding process, go hand in hand.
Are P&P bonds required for public projects in Connecticut?
Both performance and payment bonds are required for public construction projects in Connecticut, with some exceptions based on project value. These requirements are set forth in Connecticut General Statutes § 49-41, also known as the Little Miller Act.
The statutes specify that a performance bond is required for any state or municipal public building or public work exceeding $25,000 for a general bid and $50,000 for a sub-contract bid. This ensures the project is completed according to the contract. It further specifies that a payment bond is necessary for contracts exceeding $100,000 performed for the state or a Connecticut municipality. The payment bond protects subcontractors and suppliers by guaranteeing payment for their labor and materials.
Our Bond Companies
Listed below are examples of the bond companies we work with.
TYPES OF CONSTRUCTION AND COMMERCIAL SURETY BONDS
- Bid Bonds
- Performance and Payment Bonds
- Contractor Surety Bonds
- License and Permit Bonds
- Release of Mechanic’s Lien Surety Bond
- Subdivision and Site Improvement Bonds
- Connecticut Performance and Payment Surety Bonds
- New York City Performance and Payment Surety Bonds
- Understanding New York City Bid Bonds
- Understanding New York City Contractor Surety Bonds
TYPES OF CONSTRUCTION AND COMMERCIAL SURETY BONDS
- Bid Bonds
- Performance and Payment Bonds
- Contractor Surety Bonds
- License and Permit Bonds
- Release of Mechanic’s Lien Surety Bond
- Subdivision and Site Improvement Bonds
- Court Bonds
- Financial Guarantee Bonds
- Massachusetts Paid Family Medical Leave Bonds
- Connecticut Paid Family Medical Leave Bonds
- Crumbling Foundations
- Marijuana Bonds
Give us a call
Why Choose Metayer Bonding Associates?
Metayer Bonding Associates is the largest surety only agency serving the Northeastern United States. In business since 1996, our team has the experience to help you structure a solid bond program to handle all of your project needs.
Our strategic partners include 18 of the largest bond companies in the United States. The reputation and credibility that we have developed with these bond companies over the years allows us to provide the most competitive surety programs available in the marketplace today.
We are well poised to work with businesses of all sizes, having bonded projects as small as $5,000 and up to $1 billion in the past. We value all of our clients and strive to provide the same service to each and every one.
For competitive and comprehensive surety services for all of your bond needs, Metayer Bonding Associates has got you covered. Contact us now at 860-676-9402 or at mmetayer@mbasurety.com to find out how we can help. We look forward to serving you!
SEE WHAT OTHER CONTRACTORS & CONSTRUCTION COMPANIES SAY ABOUT US
STEVE MOUNT, CHIEF FINANCIAL OFFICER
J.T. MAGEN & COMPANY INC.
NYC
ENR TOP 400 CONTRACTORS- #60
JOHN LAPINSKI, CONTROLLER
THE DENNIS GROUP
SPRINGFIELD, MA
UNITED STATES, CANADA, BRAZIL, PORTUGAL
ENR TOP 400 CONTRACTORS – #217
BRIAN NICKERSON, CHAIRMAN OF THE BOARD
C.H. NICKERSON & CO., INC.
TORRINGTON, CT
Donal McIntyre, President
Wesbuilt Construction Managers LLC
NYC
ENR 2022 New York Contractor of the Year
“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
“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.”