Surety Bond Encyclopedia

Maintenance - Blanket - 2 year term Bond - Aspen, CO in Colorado

Brief Summary

Aspen does not release a right-of-way maintenance bond when the work is done. It holds it for two full years and inspects before letting go. A blanket bond on the city's own form lets a contractor who cuts into Aspen streets often keep one bond in place instead of starting fresh for every permit.

The City of Aspen requires a maintenance bond with every Right of Way permit application uploaded to the Aspen Permit Portal. The bond is the greater of $2,500 or the value of the work, names the City of Aspen as obligee, and is non-cancelable for two years from the final inspection log showing the work 100% complete. The city's form lets the principal choose single project, multiple occurrence or blanket coverage.

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How to Apply for a Maintenance - Blanket - 2 year term Bond:

  • Confirm the work alters or excavates the public right of way and needs a ROW permit.
  • Download the City of Aspen Maintenance Bond template and give it to your surety.
  • Check the blanket coverage box only, and confirm the penal sum with the Engineering Department.
  • Receive the executed bond signed by the surety's attorney in fact.
  • Upload the bond to the Aspen Permit Portal with the site plan and stamped traffic control plan.

Detailed Information About the Colorado Maintenance - Blanket - 2 year term Bond:

Two years means two years after acceptance

The common mistake is treating this as a two year bond from the day it is signed. Aspen's Maintenance Bond form guarantees materials, equipment and workmanship for two years from the date the city issues the final inspection log showing 100% satisfactory completion. The Right of Way Permit page describes the same thing as probationary acceptance. The final inspection happens two years after that date, and only if it passes is the maintenance bond released and the permit closed. Work that drags on pushes the release date out with it.

Amount

The penal sum is the greater of $2,500 or the total value of the work being performed. For blanket coverage, confirm with the Engineering Department how the city wants the amount set across the work the bond will cover before the bond is issued.

The city's form

Aspen publishes its own Maintenance Bond template, form ENG-Policy-205-A, and asks that your surety complete it and upload it with the permit application. The obligee is the City of Aspen, Colorado. The surety must be qualified to transact business in Colorado. The form has three boxes, single project, multiple occurrence work and blanket coverage, and only one may be checked. The bond is non-cancelable for two full years from issuance.

Beyond defects, the bond also protects the city from losses and damage to people or property caused by the contractor, its agents or employees during the work, including negligence in guarding the site and defective equipment or materials.

When the permit is needed

A Right of Way permit is required whenever a project involves excavation or any alteration in the public right of way, such as utility lines, sidewalks and driveways, landscaping or hardscape in the right of way, and earth retention systems that extend into it. The application also needs a site plan and a traffic control plan stamped by a traffic control supervisor. The city lists the 2026 ROW season as April 1 through October 31.

Eligibility and Requirements for a Colorado Maintenance - Blanket - 2 year term Bond:

  • Penal sum of the greater of $2,500 or the total value of work.
  • City of Aspen, Colorado named as obligee on form ENG-Policy-205-A.
  • Surety qualified to transact business in Colorado.
  • Non-cancelable for two full years.
  • Guarantee runs two years from the final inspection log showing 100% satisfactory completion.

Colorado Maintenance - Blanket - 2 year term Bond FAQs:

When does Aspen release the bond?

After the final inspection held two years from probationary acceptance. If the work passes, the bond is released and the permit closes.

Can I cancel the bond early?

No. The city form makes the bond non-cancelable for two full years from issuance.

What is the minimum amount?

$2,500. If the value of the work is higher, the bond must equal the value of the work.

Do I have to use the city's form?

The city asks applicants to have their surety fill out its Maintenance Bond template and upload it with the application.

How is the premium set?

The surety looks at the bond amount, the two year non-cancelable term, the owner's credit and the contractor's work history. You receive a quote after applying.

Official and Additional Resources for the Colorado Maintenance - Blanket - 2 year term Bond:

Other Aspen, CO Surety Bonds in Colorado

Maintenance - Multiple Occurrence Work - 2 year termMaintenance - Single Project - 2 year term

All Aspen, CO bonds · All Colorado surety bonds