Site Improvement Bonds are required by the government in order to ensure that a developer will properly upgrade any public property affected as a result of a private construction project. Furthermore, these contract bonds provide a guarantee that the developer will install improvements in accordance with building codes associated with a residential property or development affecting public property belonging to the obligee.
How do they differ from “Subdivision Bonds”?
The major difference between site improvement bonds and subdivision bonds is that site improvement bonds pertain to upgrades on pre-existing buildings or public property, whereas subdivision bonds concern new buildings.
Complete our Site Improvement Bond Application for a FREE QUOTE!
Current Market for Site Improvement Bonds: Rates for this type of contract bond can vary quite significantly from bonding company to bonding company. In fact, the same can be said about subdivision bonds. Therefore, it is important for customers to identify and work with a surety bond agency with the right amount of industry knowledge and business connections to help them find the best rates available for their specific bond.
About Our Programs: Our agency has a number of extremely competitive programs for site improvement bonds, as well as subdivision bonds. If you are currently shopping around for one of these types of contract surety bonds, we are confident we can help you find the best available rate in the market.