Metayer Bonding Associates Provides Complete Confidence Managing All of Your Surety Bond Needs
To make Street and Site Improvements in a Property or Real Estate Development. In many municipalities, there is an ordinance which provides that one who undertakes to lay out and develop a subdivision and offer lots for sale shall give bond with surety to guarantee that, within a specified time, improvements on the property, such as streets, sidewalks, curbs, gutters and sewers, will be constructed. There is considerable variation in circumstances under which bond may be required but the feature which is common to all of them is that the improvements are to be made at the expense of the developer, who will be the principal in the bond.
The bond amount is usually determined by the municipalities Engineer. They evaluate the work to be done working in conjunction with the Developer or Property Owner. This comes in a form generally known as "The Engineers Estimate".
Rates vary between 1%-3% depending upon financial qualification.
Michael F. Metayer, President & CEO
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 $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.”
“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.”