Typically, a grading bond will be sought by a property owner who is trying to get a building permit and/or grading. The idea is to ensure that the grading done aligns with the permit terms and the approved building plans.

If the bond is to be canceled, then a release must be tendered by the municipality. Qualification will require that the owner has the funds required for the grading work to commence. Apart from that, we’ll also want to make sure that a licensed and reputable contractor is being used for the job.

Maintenance bonds, site improvement bonds, a construction bond, or any kind of completion bond will all have the same pricing story as far as we are concerned. Bear in mind that we must tailor these agreements to the needs of our customers.

It stands to reason, therefore, that there isn’t a bond premium figure set in stone. Be that as it may, we make it incredibly easy to get a quote so you’ll know what to expect.

Simply use our quick quote function, which requires a couple of simple details, and we’ll assist you!

While the names can be a bit confusing for many, a warranty bond does not differ from a maintenance bond. It’s simply another name for the type of surety bond that is meant to protect a completed construction project owner from workmanship faults and defects for a specified time, considering that these defects can present themselves later if something is done incorrectly.

Site improvement bonds are meant to guarantee that developers will upgrade public property properly when there is a private construction project at play. Additionally, there is a guarantee that the building codes associated with the development are adhered to.

It may sound like a subdivision bond, but the key difference is where the focus is. Subdivision bonds focus on new buildings while site improvement bonds tend to be concerned with upgrades to existing or public properties.

If an underwriter is going to write a subdivision bond then the information required will include a cost estimate, the scope of the improvements to be carried out, and where the money involved is expected to come from.

You need only speak to us and we can provide you with the guidance you need to ensure that all the requirements are met.

It’s easy to confuse maintenance bonds with performance bonds considering that they are both meant to ensure that owners of construction projects can be protected against poor workmanship.

The difference between the two lies in where the said protection applies. In the case of a performance bond, the coverage applies to the work that is performed during the project. On the other hand, the maintenance bond is meant to provide coverage for the period following the job completion and acceptance.

Some contractors will opt to simultaneously obtain both kinds of bonds since doing so would offer a greater measure of protection.