How Do You Get A Tarion Bond In Canada?
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If you are wondering how do you get a Tarion bond in Canada you came to the right place. We can secure bonds in favour of Tarion Warranty Corporation for developers who need to post the required security.
What Information Do You Need To Provide To Get A Tarion Bond In Canada?
Here is the Tarion Bond Application form which we will help you complete in order to secure a Tarion Bond. On the application form, there is a list of documentation that the surety company will require to underwrite the developer and prepare the tarion bond.
In addition below is a list of general characteristics that surety companies look for in developers when underwriting new submissions and when considering release of deposits.
- Experience of developer/successful track record
- Adequate financial position of developer
- Ability to create and mainttain a strong project team
- Strong relationships with partners, contractors and service providers
- Strong project management skills / experienced personnel
Project Specific Criteria:
- Acceptable lender
- Acceptable financing structure with lender
- Competent cost consultant
- Competent construction manager/general contractor
- Competent team of professional
- Developer’s equity to be injected into the project is in an amount at least equal to the bonding facilities
- Developer’ to inject equity sufficient to satisfy both bank and bonding company
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