Calabasas California Performance Security Grading Permit Bond
Know the who, what, and how of this surety bond today!
What is a Calabasas California Performance Security Grading Permit Bond?
Any person or business entity who will conduct the following grading activities within the City of Calabasas is required to obtain a Performance Security Grading Permit Bond.
Compliance of the permit holder to the plans and specifications prepared by a Civil Engineer is the primary purpose of this surety bond. Aside from this, the permit holder is obligated to perform the work in accordance with all the relevant ordinances, rules, regulations, and statutes.
The bond should be submitted to the Office of the Civil Engineer of the City of Calabasas. This requirement is in accordance with Section 66499 of the Government Code.
How does a Calabasas California Performance Security Grading Permit Bond work?
A Calabasas California Performance Security Grading Permit Bond is a legally enforceable contract between three parties: Principal, Obligee, and Surety.
The principal in this case will be the permit holder. The principal’s duty is to perform the grading activity without violating any of the bond’s conditions.
The City of Calabasas will be the obligee or the beneficiary of the bond. The obligee is eligible to seek compensation if the principal fails to fulfill the obligations.
The surety’s duty is to guarantee the fulfillment of the principal’s obligations to the obligee.
How much does a Calabasas California Performance Security Grading Permit Bond cost?
The bond cost will be a percentage of the bond amount. Those who have excellent credit scores will only need to pay 1% of the bond amount as bond premium or bond cost.
The bond amount varies. This will be determined by the Office of the Civil Engineer of the City of Calabasas.
The bond amount will cover costs and reasonable expenses and fees that the City of Calabasas will incur due to the principal’s default. Attorney’s fees will be covered by the bond as well.
If you know your bond amount, you may get your FREE SURETY BOND QUOTE HERE!
How can I get a Calabasas California Performance Security Grading Permit Bond?
In order to secure this type of bond, the permit applicant must seek the assistance of a surety bond company.
If you’re ready to apply for one right now, you may easily do so HERE!
Once the application is received, the surety bond company will immediately process it. In our case, one of our expert surety bond agents will guide you through the whole process from the time you applied for the bond. We will make sure that you understand all the conditions before we issue the bond.
An underwriter will then evaluate your financial strength, job/business performance history, and your credit score.
Once the prequalification process is fulfilled, we will execute the bond and send it to you!
Ready to apply? START HERE!