Keyword
surety bond
Three insurers refuse deal to sell Canadian diamond mine for $166 million
October 13, 2020 The Canadian PressCALGARY – A deal to sell the suspended Ekati Diamond Mine in the Northwest Territories for about $166 million has fallen through after bond issuers refused to go along with it. Owner Dominion Diamond Mines ULC says the offer by…
One thing an insurer will consider before investing in commercial surety bonds
September 17, 2020 by Jason ContantSpecific industry risk can play a major role in how much capital an insurer is willing to put forward for commercial surety bonds, a speaker said during a recent webinar. Industry risk is a “unique” underwriting consideration, Rob Dempsey, senior…
Supreme Court of Canada hears surety bond dispute
November 8, 2017 by Canadian UnderwriterA construction subcontractor that was not fully paid and whose claim on a surety bond was denied had its case heard Tuesday before the Supreme Court of Canada. In 2009, Langford Electric Ltd. subcontracted directional drilling work to Valard Construction…
Supreme Court of Canada to hear appeal from subcontractor arguing trustee must notify potential claimants of existence of surety bond
March 9, 2017 by Canadian UnderwriterThe Supreme Court of Canada announced Thursday it will hear an appeal from a subcontractor on an oilsands project who is trying to sue a general contractor for failing to inform it of the existence of a surety bond. Court…