Metayer Bonding Associates Provides Contractor Surety Bonds for Construction Projects
A performance bond, sometimes called a contract bond, is a surety bond issued by an insurance company to guarantee satisfactory completion of a project by a contractor.
A job requiring a payment and performance bond will usually require a bid bond. When the job is awarded to the winning bid, a payment and performance bond will then be required as a security to the job completion. If the contractor fails to complete the project according to contract specifications, the client is guaranteed compensation for any monetary loss up to the amount of the performance bond.
Performance bonds are generally issued as part of a 'Performance and Payment Bond', where a payment bond guarantees that the contractor will pay the labor and material costs under the contract.
Surety bond companies calculate the premium charged for performance bonds based on 3 key factors: bond type, bond amount, and the applicant's risk. Once these factors are professionally assessed, the underwriter assigns an appropriate performance bond price.
Metayer Bonding Associates supports construction companies and contractors by helping to ensure that the performance bond is priced fairly based on the general criteria above.
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.”
“Lenco Armored Vehicles is the nation’s leading designer and manufacturer of protected rescue vehicles for federal and state First Responders. For nearly 15 years, Metayer Bonding Associates has played a critical role in our success in key states around the country. Mike and his team are very prompt, knowledgeable and always eager to help with any bond questions that we have. And although our individual bond requirements are typically smaller than the construction industry, the Metayer team treats Lenco with the same enthusiasm and service that you would expect of much larger projects. For any business in search of a trusted and professional bond provider, we absolutely recommend Metayer Bonding Associates. ”
“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.”