CLAIMS

Gray Surety takes a proactive approach to claims handling. We make a personal commitment to be there for you in every situation, in every service we provide. We listen, we plan, we act in your best interest; we ensure all information is accurately and timely communicated.

Performance Bonds Claims – The reasons for performance disputes are as many as they are varied. In each instance, we, as surety, must follow both the bond language and the appropriate statutes and regulations that govern the bond. In all situations, we are prepared to work with our contractors in seeking a resolution to any dispute that may arise. If, and when, a material default is declared, it is our obligation under the bond to perform an immediate investigation to determine the appropriate course of action to be pursued to complete the project in a timely and cost effective manner.

Payment Bonds Claims – Generally, payment bonds protect the owner from payment claims against their property. Once the contractor has been paid for a portion of the work, the contractor has a responsibility to pay his subcontractors and suppliers. If the contractor fails to pay in a reasonable time, it is likely that the subcontractor or supplier will look to the surety to satisfy the debt. As the surety, we have a responsibility to independently investigate every claim to determine its validity and value. We are committed to treating all payment bond claimants fairly throughout the claims process. In most instances, our involvement aids in resolving the dispute between the parties in a satisfactory manner.

It is our commitment to provide you with cost effective services and optimal results.

Our Claims Department focuses on how to prevent claims by facilitating resolution of disputes before they develop into a claim against a bond.