Surety Bond Encyclopedia

Street Opening ($5,000) Bond - Borough of Cresskill, NJ in New Jersey

Brief Summary

Cresskill will not issue a street opening permit until the bond is on file. A surety bond lets you meet that condition with a premium instead of leaving a cash deposit with the Borough for the six months it holds the security after your work is done.

The Borough of Cresskill requires a surety bond before it issues a permit to open or disturb any street, sidewalk, curb or gutter. Under Cresskill Code section 230-29 the form and amount are set by the Mayor and Council and approved by the Borough Attorney, and this listing is written at $5,000. The bond guarantees prompt restoration of the surface and repair of any defect or settlement within six months, at no cost to the Borough.

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How to Apply for a Street Opening ($5,000) Bond:

Apply to the Borough of Cresskill for a written street opening permit with a detailed description of the work.
Confirm with the Borough the bond amount the Mayor and Council require for your job.
Have your company's legal name and the street location ready for the bond application.
Owner name, home address and Social Security number for the credit review.
Pay the premium and receive the executed bond for Borough Attorney approval.
Pay the $40 permit and inspection fee and any billed attorney, bond approval or engineering charges.

Detailed Information About the New Jersey Street Opening ($5,000) Bond:

The six months after you finish

Most contractors think the bond ends when the trench is paved. In Cresskill it does not. Section 230-29 conditions the bond on prompt and complete restoration of the surface to its original condition at the end of the work, and on repair if the patch proves defective or settles within six months afterward, all at no expense to the Borough. Section 230-31 says the Borough keeps the bond for six months. Plan on the bond staying in force through that period.

Who needs the permit and the bond

Section 230-27 says no person may remove, excavate, dig up or disturb the surface of any street, road, park, sidewalk, gutter, curb or pavement in Cresskill for any purpose without a written permit from the Mayor and Council. Section 230-29 says no permit issues until the applicant furnishes a surety bond in the form and amount determined by the Mayor and Council and approved by the Borough Attorney. This listing is the $5,000 Cresskill street opening bond. Confirm the amount for your job with the Borough before the bond is issued.

Cash instead of a bond

Section 230-30 lets an applicant deposit cash with the Borough on the same conditions instead of a surety bond. The deposit is figured by the type of surface. Two examples from the code: concrete curb at $25 per foot with a 16 foot minimum, which equals $400, and concrete pavement at $50 per square yard with a $250 minimum.

Fees and permit timing

The section 230-98 fee schedule sets the permit and inspection fee for street openings at $40. Attorney, bond approval and engineering charges are listed as billed, subject to Council approval. A permit is valid for six months from issuance and can be extended up to three months if the work cannot reasonably be finished in time. Start before the permit issues and the fee doubles.

Public utilities

Public utility companies as defined by N.J.S.A. 48:2-13 are exempt from most of Article V. They file a notice with the Borough Clerk before work, pay $10 per opening or $100 a year, and post $2,000 in security annually, with more if the Borough Engineer decides a project needs it.

Eligibility and Requirements for a New Jersey Street Opening ($5,000) Bond:

Borough of Cresskill named as obligee.
Bond form and amount approved by the Borough Attorney.
Condition covering full surface restoration and repair of defects or settlement within six months.
Bond kept in force for the six month retention period under section 230-31.
Permit issued before work starts, or the fee doubles.

New Jersey Street Opening ($5,000) Bond FAQs:

How much is the Cresskill street opening bond?

Cresskill Code section 230-29 leaves the form and amount to the Mayor and Council, with approval by the Borough Attorney. This listing is written at $5,000. Confirm the figure for your job with the Borough before the bond is issued.

How long does the bond stay in place?

The bond covers repair of any defect or settlement within six months after the work is finished, and section 230-31 says the Borough retains it for six months.

Can I post cash instead?

Yes. Section 230-30 allows a cash deposit on the same conditions. It is figured by surface type, for example $25 per foot of concrete curb with a $400 minimum, or $50 per square yard of concrete pavement with a $250 minimum.

What does the permit cost?

The section 230-98 fee schedule sets the street opening permit and inspection fee at $40. Work started before the permit issues is charged twice the regular fee.

Do utility companies need this bond?

Public utilities defined by N.J.S.A. 48:2-13 are exempt from most of Article V. They file notice with the Borough Clerk, pay $10 per opening or $100 a year, and post $2,000 in annual security.