Surety solutions for Developers
A surety bond accepted by Tarion Warranty Corporation to secure your warranty obligations as a residential builder in Ontario. Your obligations to purchasers are set out under the Ontario New Home Warranties Plan Act, which Tarion administers.
A surety product, this insurance is needed to enable residential condominium developers to access and utilize purchasers’ deposits as a source of project financing. We also specialize in deposit insurance for commercial condominium projects.
One of the biggest sources to reduce your letter of credit usage and costs is when you are able to provide a bond to the town or municipality. We have a custom bond wording in use that provides an equal level of security to a municipality as the letter of credit.
Lead the way by purchasing deposit protection insurance for your freehold home buyers. Show them your strength with Westmount Protect deposit protection insurance; peace of mind that 100% of their deposit is protected.
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