Experts: Ontario Law May Grow Surety Market in Canada’s Public-Private Sector

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Legislation passed late last year in Ontario that requires surety bonds for municipal contracts will likely expand the surety market in both the public and public-private sectors in Canada, industry sources say.

The legislation may also have a knock-on effect on other provinces, they add. In British Columbia, the B.C. Law Institute is currently undertaking a review of the Builders Lien Act to generate a report containing balanced recommendations for reform.

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