What is a Subdivision Bond?
A Subdivision Bond is a type of contract bond Land Improvement Bond, Site Development Bond, or a Developer Bond. These bonds guarantee that improvements will be made and completed within a sub-divided property. These bonds are required by local, state, or federal government.
How does a Subdivision Bond work?
A Subdivision Bond may be required from a governmental entity to make improvements to a sub-divided property, typically within the new construction phase of a building project. These improvements could be for sidewalks, landscaping, roads, and even sewage systems. They are required for the betterment of a property. These bonds can be required of land developers, builders, or even a private landowner. These bonds typically have very specific guidelines that must be followed to complete the project.
How much does a Subdivision Bond Cost?
The cost of this type of bond is based upon the bond amount required by the project owner and the cost of the supplies/labor and completion of the work. A big factor in pricing is determined by the corporate financials and the personal credit report of all owners and spouses. Someone with good credit may pay a lesser premium than a person with poor credit. However, just because someone has poor credit does not mean we cannot help you. At Universal Service Agency, we strive to find our clients the best rates with the strongest rated carriers to insure you are getting the best bond coverage available.
How do I get a Subdivision Bond?
You can get Subdivision Bonds by contacting surety bond agents/brokers. Since you’re already here, you can give us a call at 215-646-2400 or Apply Now here.
How to Choose a Bonding Company?
Universal Service Agency offers Surety Service Made Simple. We are the fastest surety only agency in the country, with over 100 years of combined surety experience servicing all 50 states. We exhaust all of our resources to get you the fastest turnaround times and lowest rates. We can help anyone, even clients that may not fit into the standard market. You can get a free quote here or call our bond experts at 215-646-2400.
How long does it take to get a Subdivision Bond?
Universal can issue bonds the same day an application is received. The amount of time between application and issuance is affected by a number of factors though, including but not limited to, the size of the obligation, the type of bond, and promptness of the premium payment.
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Universal Service Agency is the fastest “surety only” agency in the country, with over 100 years of combined surety experience servicing all 50 states.