Example 1

You own 10 stores across Ontario. You would like to change the decor of all of them over the coming 15 months and your budget cost per store is $120,000.

Since a traditional performance bonds follows a contract - and you will have 10 contracts starting at different times; in order to bond your projects it will cost you a minimum premium of between $500 and $1500 depending on the bonding company your chosen contractor uses so using $1000 on 10 projects means your contractors will be passing on their costs of approximately $10,000 plus their markup.

Chances are you will opt to take your chances and go without bonding.

But what if you had a more attractive option?

The first store you put out for tender is awarded to ABC Building Ltd. If you ask them to provide a Bondworks Bond the cost will be $2,000. If you decide to use them for the next store, it would be covered by the existing bond and should you opt to award them all 10 contracts; your savings would be significant. $10,000 vs. $2,000

Now what if you decided to redo your exterior signage? All those contracts could likewise be put under the Bondworks bond at no additional cost.

Example 2

You have 30 locations across the country. You want roofing renovations done at all 30 locations. You would like to award all 30 contracts to one national general contractor. Individual bonds with their minimum premiums would incur bond premiums of $30,000. Or you could ask that contractor to provide a Bondworks Bond at a total cost of $2,000.