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Have a question? +1 815-826-6324 (815-8-BondAI) phil@AmericasSuretyBonds.com
Army Veteran Owned | Expert Surety Bonds Since 2004
Most people guess the amount on this bond wrong. Lee County DOT sets it at $5,000 or 110 percent of the cost of the work inside the right of way, whichever is greater. A surety bond keeps that money in your project instead of on deposit with the county until a year after the work is accepted.
Lee County Department of Transportation requires a cash or surety bond before it issues a right of way construction permit when a bond is called for. The amount is $5,000 or 110 percent of the cost of work within the right of way, whichever is greater. The single permit bond names the Lee County Board of County Commissioners as obligee, may be posted by the owner or the contractor, and is released one year after inspection and acceptance of the work.
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The Lee County DOT Right of Way Application for Construction requires a cash or surety bond equal to 110 percent of the estimated construction cost, with a minimum of $5,000. Condition 10 of the application states it the same way: a right of way permit bond of $5,000 or 110 percent of the cost of work within the right of way, whichever is greater. A $60,000 driveway and drainage job inside the right of way therefore needs a $66,000 bond, not $5,000.
Only the cost of work inside the right of way counts. The application asks for the estimated cost of work within the right of way, and says that figure is required for single permit bonds only.
The application offers cash by check, or a surety bond written for a single permit or for multiple permits. This page covers the single permit bond, which ties to one right of way permit number and work location.
The county's Right-of-Way Construction Permit Bond (Single: Permit Form) names the Lee County Board of County Commissioners as obligee. The principal agrees to fully indemnify the county against all losses arising from failure to comply with the laws, ordinances, resolutions and rules governing county rights of way.
The bond is released one year after inspection and acceptance of the work. The surety may end its liability on 30 days advance written notice to the county, but that does not erase liability already incurred, and suit must be brought within twelve months after termination.
Either the property owner or the contractor may provide the bond. Contractors pulling the permit also need a state or local license on file and liability insurance naming Lee County as additional insured.
The surety prices the bond from the bond amount, the principal's credit and the size of the job. Pricing is shown when you apply.
No. $5,000 is the minimum. Lee County DOT requires $5,000 or 110 percent of the cost of work within the right of way, whichever is greater.
Yes. The application allows cash by check or a surety bond for a single or multiple permits.
Either one. The application states the bond may be provided by the owner or the contractor.
One year after Lee County inspects and accepts the work.
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