“We would highly recommend Metayer Bonding Associates to any contractor looking to improve upon their present bonding arrangement.”

STEVE MOUNT, Chief Financial Officer
J.T. Magen & Company Inc. NYC
ENR Top 400- #60
“Our company designs and builds food processing facilities. Mike and the entire staff at Metayer Bonding Associates understands our specialized business.”

JOHN LAPINSKI, CONTROLLER
The Dennis Group
Springfield, MA
ENR TOP 400 CONTRACTORS – #217

“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.”

JEFFERY CLEMENT, PRESIDENT
Modern Mechanical Systems, Inc.
Farmington, CT

PROVIDING SURETY BONDS IN NEW YORK CITY AND THE TRI-STATE AREA

There are many difficult aspects about doing business in the New York City Metropolitan area. Navigating the surety waters can be very difficult. Through our numerous years of experience in New York City and the Tri-State area, we make the handling of your surety needs flow smoothly. Our Bond Company relationships are strong and time tested which provides us with complete market coverage to secure the most effective surety support in the industry today.

Performance and Payment Bonds

Performance Bonds are generally issued as part of a ‘Performance and Payment Bond’, where a Payment Bond guarantees that the contractor will pay their subcontractors and suppliers under the contract.

A Performance Bond, sometimes called a Contract Bond, is issued by a Surety Company to guarantee satisfactory completion of a project by a contractor.
A job requiring a Performance and Payment Bond will usually require a Bid Bond as described below. When the job is awarded to the lowest responsible bidder, a Performance and Payment Bond will then be required as security through contract completion. If the contractor fails to complete the project according to contract specifications, the owner is guaranteed that the project will be completed and that subcontractors and suppliers will be paid. Payment Bonds are sometimes alternatively referred to as Labor and Material Payment Bonds. This particular bond is of great importance because it offers a viable and efficient solution for non-payment by the contractor to their subcontractors and suppliers.

Bid Bonds

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 required in a penalty amount which is small in relation to the contractor’s bid, generally from 5 to 30 percent. Bid Bonds help to prevent contractors from submitting frivolous bids thereby wasting the owners time and money spent on the putting the contract out for bid.

What factors are used in determining the cost of Performance and Payment Bonds?

Surety Companies use a variety of factors to determine the premium rates they charge. For example, larger, more financially stable contactors will typically garner a lower rate. A contractor who frequently requires bonds and is in good financial condition will also qualify for preferred rates. Working with Metayer Bonding Associates will ensure that you are provided the most competitive rates available in the marketplace today.

Michael F. Metayer, President & CEO

One Wall Street Building Conversion: Project Bond Amount $940MM

Our Bond Companies

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

Give us a call

We look forward to working with… and for you.

SEE WHAT OTHER CONTRACTORS & CONSTRUCTION COMPANIES SAY ABOUT US

“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 $940mm 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.”

STEVE MOUNT, CHIEF FINANCIAL OFFICER
J.T. MAGEN & COMPANY INC.
NYC
ENR TOP 400 CONTRACTORS- #60

“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.”

JOHN LAPINSKI, CONTROLLER
THE DENNIS GROUP
SPRINGFIELD, MA
UNITED STATES, CANADA, BRAZIL, PORTUGAL
ENR TOP 400 CONTRACTORS – #217

“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

“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

“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.”

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

“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.”

HEBERTON “RUSTY” FRICKE III, DIRECTOR OF OPERATIONS
R & R CONSTRUCTION CO., INC.
CHESTER, NJ