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Army Veteran Owned | Expert Surety Bonds Since 2004
Have a question? +1 815-826-6324 (815-8-BondAI) phil@AmericasSuretyBonds.com
Army Veteran Owned | Expert Surety Bonds Since 2004
The amount on this bond is not your choice. El Paso County will reject it unless it matches the posted amount printed on your construction permit to the dollar, so have the permit in hand before you apply. A surety bond lets you post that guarantee for an annual premium instead of handing the county a cashier's check.
El Paso County uses the Permit Compliance Bond to guarantee site improvements on projects that are not part of a subdivision. The obligee is the Board of County Commissioners of El Paso County, the penal sum must equal the amount posted on the construction permit, and the original bond is delivered with a copy of that permit.
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El Paso County Planning and Community Development collects collateral to guarantee completion of required improvements tied to certain land use applications. For projects that are not part of a subdivision, the county's form is the Permit Compliance Bond. Subdivision work uses a separate Subdivision Bond backed by a recorded Subdivision Improvement Agreement, so make sure you are buying the right one.
There is no fixed figure. The county's collateral guidance states that the collateral amount must match the posted amount listed on the construction permit. That number comes from the financial assurance estimate approved for your project. A bond written for the wrong amount is not accepted.
Under the county form, the principal agrees to build all improvements according to the county approved construction plans, comply with county rules now in force or adopted later, correct any deficiencies the county identifies, and hold the county harmless from losses caused by failing to comply with the permit. If the Board of County Commissioners finds noncompliance by resolution, the surety must either bring the work into compliance or pay the county up to the penal sum.
The bond is continuous and does not stack its limit over multiple years. The surety may cancel with thirty days written notice, but stays liable for anything that happened before cancellation. Releases are based on county inspection, with releases at Preliminary Acceptance and Final Acceptance. Reduction requests go to the county in writing.
The bond must be an original on the surety's letterhead, not a copy, and it cannot be handed over in the field. A copy of the construction permit must come with it. Coordinate delivery through your assigned county Project Manager. A form that departs from the county template must be reviewed by the County Attorney's Office.
Whatever your construction permit says. El Paso County requires the collateral amount to match the posted amount listed on the permit, which comes from your approved financial assurance estimate.
No. The Permit Compliance Bond is the county form for projects not part of a subdivision. Subdivision improvements use the Subdivision Bond with a recorded Subdivision Improvement Agreement.
The county form is continuous. The surety can cancel on thirty days written notice to the county but remains liable for damages incurred before the cancellation date.
Release follows county inspection, at Preliminary Acceptance and Final Acceptance. Requests to reduce the amount must be made to the county in writing.
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