City of Union Encroachment Permit Bond
Constructing a project can alter and even damage public property. To ensure that the public is paid for and compensated from potential damages, businesses are required to file for an Encroachment Permit Bond with the City of Union. The State of California defines an encroachment as any implement or event covered in the city’s right-of-way.
What is an Encroachment Permit?
When a business or applicant requires access to public RROW or road right-of-way, the City of Union will require an encroachment permit. This is to regulate the right-of-way, easement, or any development affecting public areas. Other types of work that will require a permit include the obstruction or restructure of water lines, sewer facilities, and drainage.
The criteria of when you should apply for an encroachment permit is different in every municipality. The Union City of California website provides all the requirements and other information regarding the permit.
What is the County of Union Encroachment Permit Bond?
Similar with any type of encroachment bond, it provides a legal contingency that the City of Union is compensated for any damages done or inconvenience caused on public property (roadways) by the applicant.
By purchasing and filing for an encroachment bond with the City of Union, you can activate your business license. The agreement under the bond ensures that the public is compensated by the business owner or applicant. It is a form of financial assurance that altered public property is returned to its original condition.
How does it work?
The bond must be issued by a surety bond provider certified by the County of Tulare. The parties in the agreement are the Principal (business or permit applicant), Obligee (Union City), and Surety/Bond Company or Obligor (surety bond provider or insurance).
The Obligor will guarantee the compensation (performance bond) of the Obligee should the Principal fail to meet their standards or violate other licensing provisions. The Surety Company will assess the validity of claims, where claims may only amount to the total penal sum agreed upon in the bond form. The Principal shall reimburse all expenses covered by the Surety Company.
The Bond Company is secured through an indemnity agreement as the licensed business is mandated by law for the full reimbursement of the claims, including legal fees and premiums. This agreement shall be made before the execution of the bond and shall ascertain the businesses responsibility over their dealings.
How much does it cost?
To obtain a City of Union Encroachment Permit Bond, you will have to pay 0.5% of the bond amount.
To get a quotation of your bond, visit here and get your surety bond today!
How can I apply for this bond?
At Surety Bond Authority, we are dedicated to help you get your bond the fast and easy way. Here is a step-by-step guide to help you get started.
To get your encroachment permit ready, you are going to have to secure your bond as early as possible. If you are ready to get yours processed today, you can APPLY HERE. Rest assured our expert surety bond agent will guide you from the time of your application until the issuance of your bond.
In the assessment phase, our underwriter will need the following information:
- Nature of your profession or business
- Credit score
- Financial strength
For the speedy processing of your application, ensure you have gathered and provided accurate information upon submission.
Once the assessment is done, we will promptly issue your bond and send it your way. Contact us today and get your bond issued in no time!