Updated: Mar 17
Subdivision bonds are a type of surety bond used by local governments to ensure that developers complete required infrastructure improvements within a new subdivision, such as roads, sidewalks, water and sewer lines, and drainage systems.
When a developer wants to build a subdivision, they must obtain approval from the local government and often agree to build these infrastructure improvements as part of the project. An Obligee may require the developer to post a bond to guarantee that they will complete the improvements within a certain timeframe.
The amount of the bond is typically based on the estimated cost of the infrastructure improvements, and it is held by the obligee until the improvements are completed to the satisfaction of the government. If the developer fails to complete the improvements within the agreed-upon timeframe, the obligee can make a claim on the bond.
As a subdivision bonding agent, we provide a critical service for both developers and contractors looking to build new subdivisions. Our expertise in the complex process of obtaining subdivision bonds and ensuring that infrastructure improvements are completed on time and to the satisfaction of the local government.
Here are some key reasons why developers and contractors should work with us as their subdivision bonding agent:
Expertise in Obtaining Subdivision Bonds
Our team of experts has years of experience in obtaining subdivision bonds from various government entities. We know the ins and outs of the process and can guide developers and contractors through the application process, helping them avoid costly mistakes and delays. Our relationships with surety companies enable us to secure the best possible terms and conditions for our clients.
Efficient and Streamlined Process
Our team understands that time is money in the development industry. We work quickly and efficiently to get developers and contractors the bonds they need, so they can move forward with their projects. We also offer online applications and electronic document signing to streamline the process and make it as easy as possible for our clients.
Personalized Service and Support
At our company, we pride ourselves on providing personalized service and support to every client. We take the time to understand the unique needs and challenges of each project and provide customized solutions. Our team is always available to answer questions and provide guidance throughout the entire bonding process.
In summary, our access to over 80 surety markets is a significant advantage for developers and contractors looking for a reliable and experienced subdivision bonding agent. Our ability to leverage these relationships can help ensure that your experience obtaining these bonds is successful. Contact us today to learn more about how we can help you meet your subdivision bond needs.