“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
New York City Performance and Payment Surety Bonds
PROVIDING PERFORMANCE AND PAYMENT BONDS IN NEW YORK CITY AND THE SURROUNDING AREA
Doing business in New York City presents challenges for many different types of businesses, and the construction industry is no exception. Finding the right company you can trust for all of your surety bonding needs can prove difficult in such a big city. Metayer Bonding Associates 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 New York City 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.
Stay Competitive in the New York City Construction Industry with Performance and Payment Bonds
New York City is a metropolitan area that is at the forefront of architectural innovation. The state is credited with having the fourth biggest construction industry in the country with New York City paying $11.8 billion in manpower hours annually.
Though New York City’s construction projects are plentiful, it is small firms of 20 employees or less that complete one-third of the work in this urban area.
What sets the best of these small construction companies apart from the crowd?
The most forward-thinking NYC-based small to mid-sized construction firms partner with reputable surety agencies for their performance and payment bond needs.
Michael F. Metayer, President & CEO
One Wall Street Building Conversion: Project Bond Amount $940MM
How Do Performance and Payment Bonds Help New York City Construction Firms?
New York State 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 New York City construction company owners recognize their value and include them with every proposal they submit.
Performance and payment bonds provide New York City obligees 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 of the best in the 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 New York City bonding needs, no matter the size or scope of your project.
What are the Benefits of Performance and Payment Bonds for New York City Private Projects?
The voluntary purchase of performance and payment bonds for your NYC private 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
What is the difference between a performance bond and a payment bond?
A performance bond secures the 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.
Related Questions
What is involved in bond underwriting for performance and payment bonds?
Clients of Metayer Bonding Associates enjoy the benefits of our history and reputation with bonding companies. Please review the submission documents we require to conduct your underwriting and ensure you have an effective and efficient bonding strategy in place.
Contact Metayer Bonding Associates to discuss our underwriting process.
What is Section 137 of the NYS Finance Law?
Payment bonds are required for public projects. This requirement stems from NY State Finance Law section 137 which generally requires prime contractors to obtain payment bonds for public projects to protect subcontractors, sub-subcontractors and material vendors from non-payment by the prime contractor.
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.”