Surety Association of Canada introduces updated standard bond forms
In our Digital Speaker Series session, “An introduction to surety bonds,” Steve Ness of the Surety Association of Canada (SAC) discussed how the Canadian Construction Documents Committee’s (CCDC) were becoming quickly out of date, having been last updated in 2002. To address this gap, the SAC has announced the release of the 2021 edition of the SAC standard bond forms.
This new set of forms includes updated 2021 versions of the SAC Bid Bond, Performance Bond, and Labour & Material Payment Bond. These new forms remove ambiguous terms and concepts, and strive for more clarity of language.
View the full release and access templated versions of the new forms on the SAC website.
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