The Lesron Team are Surety Bond Specialists in Fullerton, CA
We’re Here to Facilitate Successful Projects
As a builder or developer, you are likely hiring subcontractors to complete various tasks in your construction projects. You’re putting your trust in these contractors to complete their assigned tasks in a timely manner to keep your project on schedule. Lesron Insurance is here to give you peace of mind in these projects by providing surety bonds that help to facilitate successful projects and relationships between developers and contractors. In essence, a surety bond is a three-party contract between our company, known as the Surety, the contractor, known as the Principal, and the developer, known as the Obligee. The surety helps ensure successful completion of the project as the Principal promises to perform work according to the terms laid out in the contract. Please reach out to us for more information about our surety bond programs.
We Focus on Providing Five Types of Bonds
In addition to ensuring that contractors fulfill their obligations, surety bonds also ensure developers hold up their end of the contract by following all state, local, and municipal laws and regulations and making the necessary improvement to their property. At Lesron Insurance, we focus on providing five types of bonds. Though an insurance company provides a surety bond, it is not a typical insurance policy. Instead, these bonds create a streamlined transition from construction financing to permanent financing. The bond also helps to support the contractor, can provide payment protection for subcontractors, and ensure the project is completed. We offer five types of bonds, including:
Express Bonds: These bonds are used only for projects valued under $500,000, which makes them perfect for smaller projects. Those contractors with good credit may be able to bypass the standard submission process to make applying easier
Contract Bonds: These bonds are more complex than the express programs and will protect projects over $1.5 million. The application process will be more in-depth, so it’s important to begin the process early. Contract bonds can include many other types of bonds like bid bonds, maintenance bonds, payment bonds, and more.
Environmental Bonds: This type of bond is most commonly required if you are working with environmentally harmful or dangerous materials. This could be anything from projects involving asbestos or hazardous waste. We’ll help you determine if you need an environmental bond for your project.
Subdivision Bonds: These types of bonds are used when improvements or additions are needed to public utilities, such as sewers, utility lines, curbs, gutters, or sidewalks. The bonds are meant to ensure that the project is completed.
License & Permit Bonds: This type of bond is required by all federal, state, and municipal agencies. Their primary purpose is to act as a safeguard for public health, welfare, safety, or morals.
Lesron can recommend a reputable professional CPA – experienced with contractors – to assist you with many of your business needs.
Thank you for considering Lesron for your bonding solutions.
If you have any questions, please contact us for professional guidance. We welcome and value new relationships as you enter into the realm of projects requiring surety bonds.