Bonding
WHAT IS A BOND?
Issued by an association, insurance company or financial institution, the license bond serves as a financial guarantee that any licensed contractor must present to ensure the performance of their contractual obligations to their clients.
The purpose of this bond is to compensate any person who has suffered loss as a result of the non-performance or execution of construction work and arising directly from deposits paid, non-completion of work, deficiencies and defects discovered within one year of the completion of the work.
IS THE BOND MANDATORY?
As required by the Régie du bâtiment du Québec (RBQ), all contractors must provide a license bond. There are some exceptions to this requirement for certain categories of residential building contractor licenses.
The Régie du bâtiment du Québec (RBQ) requires :
- for trade contractors: a bond in the amount of $20,000
- for general contractors: a bond in the amount of $40,000
EXCLUSIVE TO APECQ MEMBERS
APECQ offers its active members, who hold a contractor's license, the mandatory bond free of charge.
Become a member