Nick sits down with Frankie Porco and Brendan Farrow of Platform Insurance, a Toronto brokerage focused on insurance and bonding for developers and builders. Since CMHC added a bonding requirement to MLI Select, bonding has gone from a public infrastructure product to something almost every purpose built rental project needs. They explain what a bond actually is, the difference between a performance bond and a labour and material payment bond, and why the â50/50â requirement still means your full contract is covered. They also cover who needs it (some lenders now ask for it on projects as small as 7 units), what it takes to qualify, how vertically integrated builders get approved, and how subdivision bonds can free up cash youâd otherwise lock in letters of credit. The episode wraps with where the construction market is heading and why you need specialists on your power team, not generalists.
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