Travelers Guarantee Company of Canada

Travelers
Guarantee
Company of
Canada
Effective solutions from a recognized provider of residential real estate products in Canada
Travelers Guarantee Company of
Canada is the leading provider of
specialized residential real estate
products for builders and developers
in Canada. We offer bonds which are
preferred alternatives to letters of credit
to help meet your security requirements
with Tarion Warranty Corporation or with
municipalities. We also provide deposit
insurance which allows purchasers’
deposits to be used in funding projects
while still being protected.
Tarion Warranty Corporation (TARION)
Bonds
In Ontario, these bonds satisfy the
vendor/builder’s security requirement
under TARION’s Builder Bulletin 28.
Under the bond the TARION is covered
for both condominium deposit claims up
to $20,000 and construction deficiency
claims. Travelers Guarantee Company of
Canada offers competitive and creative
solutions which will free a builder from
the constraints of tying up valuable
credit facilities with his lender.
Deposit Insurance
Under Ontario’s Condominium Act,
Travelers Guarantee Company of Canada
provides prescribed security for deposits
in excess of what TARION protects as
well as for deposits on projects that do
not qualify for TARION coverage. This
includes deposit insurance for new
condominium projects, freehold homes,
condominium conversions as well as
commercial condominiums. These
deposits can then be used as a source of
project financing.
Equity Edge™ New Home Deposit
Bonds
These sales tools for the British Columbia
and Ontario new home markets provide
an alternative to large cash deposits and
are intended to attract and encourage
people to buy new homes and condos
instead of resales.
Subdivision Bonds
Travelers Guarantee Company of Canada
provides bonds, which are an alternative
to letters of credit, on behalf of larger
residential land developers in order
to secure land development and site
servicing obligations to municipalities.
This is done on a selective basis and is
limited to those municipalities that will
accept a bond in lieu of a letter of credit.
Real Estate Development Marketing Act
was passed in B.C. which allowed us to
offer Deposit Protection Insurance. As in
Ontario this product makes an additional
source of funding available for our New
Home Warranty clients developing
condominium projects.
Title Insurance
The NewHome Title Guarantee Program
provides value and online efficiency for
both builders of new homes and their
solicitors. It also provides purchasers
with the added benefit of TitleEdge title
insurance resulting in a smooth, problem
free closing with substantially reduced
costs and increased protection from title
risks.
Further details may be obtained by
contacting our Residential Real Estate
Products Group at one of our locations
listed below.
New Home Warranty & Deposit
Protection Insurance in British
Columbia
Under the Homeowner Protection Act,
Travelers Guarantee Company of Canada
provides 2-5-10 Year Home Warranty
Insurance for purchasers of new homes
through a network of over 1,500
licensed builders. In January 2005, the
Travelers Guarantee Company of Canada
Vancouver Branch: 650 W. Georgia Street Suite 2500, Vancouver, British Columbia V6B 4N7 604-682-2663
Toronto Branch: 20 Queen Street West Suite 300, Toronto, Ontario M5H 3R3 416-360-8183
www.travelersguarantee.com