Chula Vista California Landscape Maintenance Bond
Wonder why this surety bond is needed and how to get one fast? Read on!
What is a Chula Vista California Landscape Maintenance Bond?
Every person who will perform a landscape maintenance on properties located within the City of Chula Vista is required to obtain a Chula Vista California Landscape Maintenance Bond.
This surety bond will serve as a guarantee to the City of Chula Vista that the bonded person will perform the work according to a pre-determined agreement. Some of the conditions in the agreement are as follows:
- All cut and fill slopes shall be planted and irrigated in accordance with an approved plan. A landscape plan must indicate the total landscaped square footage, plant quantity, spacing, type, location, and other necessary information including the irrigation system.
- The plan shall conform to the city landscape manual.
- The plan shall be approved by the city landscape architect, as well as the director of planning and building or designee.
The bonded landscape contractor is required to obey the ordinances, rules, regulations, and statutes related to the project.
This requirement is in pursuance of Chapter 15.04 of the Chula Vista Municipal Code.
How does a Chula Vista California Landscape Maintenance Bond work?
A surety bond is a written agreement among these three parties:
Principal – the person who will perform the landscape maintenance
Obligee – the City of Chula Vista
Surety – the party who will be responsible for the default of the principal
The role of the surety is to guarantee the performance of the principal to the obligee. The surety is basically saying that the principal can perform the job. If the principal fails to do so, both the principal and the surety will be accountable for principal’s violation.
If such occurs, the obligee can file a claim against the bond in order to recover the amount lost. A valid claim means that the surety will pay the obligee the amount necessary to complete the project.
How much does a Chula Vista California Landscape Maintenance Bond cost?
The bond cost will typically be 1% to 2% of the total bond amount for those who have excellent credit scores.
The bond amount will be a case-by-case basis as well. This will be determined by the City of Chula Vista’s landscape architect.
You can find out what your bond premium will be by claiming your FREE SURETY BOND QUOTE HERE!
How can I get a Chula Vista California Landscape Maintenance Bond?
SEND US A BOND APPLICATION – We begin the bonding process with an application. You may send your application for this bond HERE!
UNDERWRITING – Once we have received your application, an underwriter will ask you to submit the following important requirements:
- Proof of your financial capability
- Your business’ history
- Your credit score
ISSUANCE – As soon as the underwriter has completed the necessary in-depth check, you will be asked to sign an indemnity agreement. After that, the bond will be issued.
You may submit your application HERE!