Subdivision Bonds
Subdivision bonds, also known as ‘site improvement’, ‘plat’, or ‘subdivision improvement’ bonds provide a level of protection to a local government, guaranteeing that the owner/developer will complete improvements which will become part of the public domain (i.e., gutters, sidewalks, curbs, etc.) . The key difference between subdivision bonds from regular contract performance bonds is that the developer must pay the cost of building the bonded improvements rather than the public agency.
Application
If you need a subdivision bond, Bond Brokers is here to help. Just download the subdivision bond application and provide us with the following documentation:
- Engineer’s estimate
- Business & personal financial statements
- Verify all cash on above statements
- Verify financing on the project
Subdivision & Maintenance Bond Application
Once completed, email your form to Craig Sherman (craig@bondbrokersinc.com) or Ted Sherman (ted@bondbrokersinc.com) and we’ll respond as soon as possible. Please don’t hesitate to contact Craig or Ted Sherman at (888) 488-BOND (2663) if you’d like to be personally acquainted with the commercial contract bond application process.