Parking Lot License ($1,000) Bond - Denver, CO in Colorado

Brief Summary

Running a paid parking lot or garage in Denver takes a city license, and this $1,000 bond is part of that license file. It is one of the smallest license bonds the city asks for, and the annual premium is far less than parking $1,000 in cash with the city.

The Denver Parking Lot License bond is a $1,000 license bond posted by the operator of a parking lot or garage licensed by the City and County of Denver. The city is the obligee. Parking lot and garage licenses are issued through Denver's Department of Excise and Licenses, so confirm the current bond form and filing steps with that office before the bond is issued.

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How to Apply for a Parking Lot License ($1,000) Bond:

• Confirm with Denver Excise and Licenses that your lot or garage needs a parking license and this bond.
• Have the legal business name exactly as it will appear on the Denver parking license.
• Owner or principal details for the surety's underwriting review.
• Complete the bond application and review the quoted premium.
• Have the surety execute the $1,000 bond on the city's current form, with the City and County of Denver as obligee.
• File the signed bond with your Denver parking license application or renewal.

Detailed Information About the Colorado Parking Lot License ($1,000) Bond:

Who posts this bond

The bond is posted by the business that operates the parking lot or garage and holds the Denver parking license. If a management company runs the lot for a property owner, the licensed operator is the one that posts the bond.

What the bond guarantees

The operator is the principal, the surety backs it, and the City and County of Denver is the obligee. The bond guarantees that the operator will run the lot within the city's parking license ordinances and rules. If the operator breaks those rules and causes a loss, a claim can be made against the bond up to $1,000. The surety pays valid claims and the operator must repay the surety.

Other parking rules to watch

Denver's Excise and Licenses office also publishes guidance on public parking lot lighting and on towing from parking lots. Those rules apply to the licensed operator alongside the bond, so review them when you apply.

Filing and cost

Get the current bond form from Denver Excise and Licenses and confirm whether the bond is filed with a new application, a renewal or both. You do not pay the $1,000. The surety charges an annual premium after reviewing the business and its owners.

Eligibility and Requirements for a Colorado Parking Lot License ($1,000) Bond:

• Bond amount of $1,000.
• City and County of Denver named as obligee.
• Operator name on the bond matching the Denver parking license exactly.
• Compliance with Denver's parking lot lighting and towing guidance.
• Premium set by the surety after reviewing the applicant's credit and business background.

Colorado Parking Lot License ($1,000) Bond FAQs:

Official and Additional Resources for the Colorado Parking Lot License ($1,000) Bond: