Above is our companies Bonding Letter. Click on the link above to learn more about our company. This letter only services as a bonding reference. New England Glass is a DAS certified company.
Our Ace Surety Entity insurance company is prepared to provide us with any future bonding needs we might come up against. NEGM is able to provide performance and/or payment bonds for any project that requires them. NEGM has a $2,500,000.00 single limit with a $3,500,000 aggregate but is willing to consider higher amounts as well. Westchester Fire Insurance Company is rated “A” by A.M. Best rating.
A Performance Bond, is a surety bond that is issued by an insurance company or bank to guarantee the satisfactory completion of a project. This has become more prevalent in the industry and is something NEGM as a company has become involved in over the last 5-10 years. The Miller Act, amended by the FASA, states that payment and performance bonds for all federal contracts must be over $100,000.
A Surety Bond is a bond used in construction to protect against disruptions, failure to complete a project, or the jobs failure to meet contract specifications. Typically there are three parties involved in construction bonding: owners, the parties building the project or doing the work and the surety companies.