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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
Cutting into an Escambia County road or right of way means promising to put it back the way you found it. The $10,000 road restoration bond is that promise in writing. It lets the county release your permit without holding your cash, and the annual premium is a small fraction of the bond amount.
The $10,000 Road Restoration Permit bond is posted by a contractor, utility installer or property owner who will excavate, cut or otherwise disturb a road or right of way in Escambia County, Florida. It guarantees that the permit holder will restore the pavement, shoulder and surrounding right of way to the county's standards when the work is done. Escambia County is the obligee. Confirm the current bond form and filing steps with the county before the bond is issued.
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Many permit holders think the bond protects the county against the permit fee or covers damage during construction. Its real job is narrower and more practical. It guarantees that once the work in the right of way is finished, the permit holder restores the road surface, base, curbing, shoulders and sod to the condition the county requires. If the restoration is not done or not done correctly, the county can call on the bond to pay for the repair, up to $10,000.
The principal on the bond is the party that holds the permit and is responsible for the work. That is usually the contractor performing the cut, such as an underground utility, plumbing, irrigation or driveway contractor, but it can be a property owner pulling the permit directly. The bond must be in the same legal name as the permit applicant.
Escambia County is the obligee. Ask the county permitting office which bond form it requires, whether the bond can be continuous for multiple permits or must be tied to a single job, and how long it must stay in force after restoration is accepted. Those answers affect how the bond is written, so get them before issuance.
The surety reviews the applicant's credit and, for a contractor, its business history. A $10,000 permit bond is generally written on a simple application, and you see the exact premium before you buy. If the county pays a claim to fix an unfinished restoration, the principal repays the surety.
That the permit holder restores the road and right of way to the county's standards after the work. If that does not happen, Escambia County can recover repair costs from the bond, up to $10,000.
The party that holds the permit and performs the work, usually the contractor. The name on the bond should match the permit application exactly.
That depends on the county's current practice. Ask Escambia County whether it accepts a continuous bond or requires a separate bond for each permit before the bond is issued.
The surety prices it from your credit and business history. You get an exact quote before paying, and the premium is a small fraction of the $10,000 bond amount.
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