Carlsbad Grading and Erosion Control Bond
What is a Carlsbad Grading and Erosion Control Bond?
It is a legally binding agreement among three parties:
- Principal - Grading permit applicant
- Obligee - the City of Carlsbad
- Surety - Surety Bond Authority
Through this surety bond, the Surety will guarantee the fulfillment of the grading and erosion agreement by the Principal to the Obligee. The said grading and erosion agreement will include the following:
- Incorporation of the grading permit and the approved plans and specifications including construction SWPPP.
- Compliance with all the terms and conditions of the grading permit including the grading permit time limits.
- Compliance with all provisions of Section 15.16.140 of the Carlsbad Municipal Code and other applicable laws and ordinances.
- A cost estimate prepared by a civil engineer provides for the construction of all earthwork, drainage facilities, retaining walls, TCBMPs, construction BMPs including the cost of maintenance during the period of time the permit is active, geotechnical mitigation measures, landscaping, irrigation, and any other items needed to complete the grading work.
- Indemnify and hold the city harmless against any and all claims arising from the performance of the grading work.
- Maintain all safety and stormwater best management practices until the grading work is complete and stabilized against erosion in accordance with city standards.
How much does a Carlsbad Grading and Erosion Control Bond cost?
The bond amount will be sufficient to guarantee the performance of all grading work described on the approved grading plans, construction SWPPP and specifications as estimated by the City Engineer.
The bond premium will be a percentage of the bond amount. Your bond premium will depend on your credit score. The higher the credit score, the lower the bond premium will be.
How to get a Carlsbad Grading and Erosion Control Bond.
Here’s how to get bonded:
- You have to send an application to us. If you are ready to do that now, you may APPLY HERE!
- After we have received your application, we will ask you to submit the necessary information needed for the underwriting process. These are the following:
- Your financial capability
- Your business or job performance history
- Your credit score
- An expert underwriter will carefully evaluate all three in order to attain the best credit decision possible. To avoid any delay, the information that you should submit should be organized and concise.
- Your surety bond will be issued and sent to you!