Parking Lot License Bond - City of Los Angeles, CA in California

Brief Summary

A parking lot bond in Los Angeles is continuous. One bond covers every annual permit until it is cancelled, so you buy it once and renew the premium rather than refiling each year. Post cash instead and the City holds it for three years after you stop operating the lot.

The City of Los Angeles requires a License Bond (Parking Lot) from operators permitted under Los Angeles Municipal Code Section 103.202. The bond guarantees the operator complies with the terms and conditions of that section. It runs continuously, covering each annual permit until the surety cancels it with 30 days notice by registered mail to CAO Risk Management, and the surety's liability is capped at the bond amount for any one annual permit period. Confirm the required amount for your lot or lots with the permitting office before the bond is written.

We can help with all California bonds!

How to Apply for a Parking Lot License Bond:

• Confirm with the Police Commission permit office the bond amount required under LAMC 103.202 for your lot or lots.
• Have the operator's exact legal name and the lot address or addresses ready.
• Complete the surety application and pay the premium.
• Have principal and surety signatures notarized on separate acknowledgments, with two officers signing for a corporation and the corporate seal affixed.
• Attach the surety's current power of attorney and furnish the bond in duplicate.
• File the executed bond for approval by CAO Risk Management with your parking lot permit application.

Detailed Information About the California Parking Lot License Bond:

Who requires it

Parking lot permits in Los Angeles fall under LAMC Section 103.202, part of the police permit provisions administered by the Board of Police Commissioners. The Commission Investigation Division handles permit processing and enforcement, and its Office Police Garage Section covers valet and auto park operations. The obligee on the bond is the City of Los Angeles.

What the bond guarantees

The City's License Bond (Parking Lot) form, Form 163a, binds the operator and surety to the City and is conditioned on the operator complying with the terms and conditions of Section 103.202, as amended. The bond amount is the amount the operator has been required to file under that section, and the form leaves it to be filled in for your permit. Confirm the figure with the Police Commission's permit office when you apply.

How long it lasts

The surety bond is continuous. It covers each and every annual permit issued to the named principal until the surety cancels it with thirty days advance notice sent by registered mail to the Office of the City Administrative Officer, Risk Management. Total surety liability cannot exceed the bond amount in any annual permit period, no matter how many years the bond stays in force.

Cash instead of a bond

The City also accepts a Cash Parking Lot Bond in lieu of a corporate surety bond. That deposit can be used to pay anyone with a valid claim under Section 103.202, and it stays in place until 36 months after the operator stops running the lot at that location. The form warns that cash is not refundable until three years after the permit is cancelled. A surety bond avoids that long hold.

Not the same as the tax bond

This license bond is separate from the parking occupancy tax collection bond the Office of Finance requires under LAMC Chapter II, Article 1.15. Filing one does not satisfy the other.

Eligibility and Requirements for a California Parking Lot License Bond:

• A surety licensed to write bonds in California.
• City of Los Angeles as obligee on License Bond (Parking Lot) Form 163a.
• Bond amount matching what the permitting office requires under LAMC 103.202.
• Continuous term covering each annual permit until cancelled on 30 days registered mail notice.
• Separate filing from the Office of Finance parking occupancy tax collection bond.

California Parking Lot License Bond FAQs:

Official and Additional Resources for the California Parking Lot License Bond: