City of Whittier Grading Permit Bond
Grading is one of the first steps in the construction process, and, considering its delicate nature, this activity may cause damages to onsite public properties. For this reason, filing for a Grading Permit Bond in the City of Whittier is mandatory for any business project.
What is a Grading Permit?
A business owner will usually need to apply for a grading permit should their business project involve activities like excavating or soil filling and the installment of new pavement and building structural retaining walls. Grading bond requirements vary depending on the city or county. For information on the application process and the complete list of work that requires a grading permit, you may visit the Whittier City Hall Public Works counter.
What is a Grading Permit Bond?
Possession of a surety bond is a prerequisite to the approval of the Grading Permit that guarantees you can be trusted by the City of Whittier; your business complies with all city codes and regulations and engineering standards. It is a legal agreement that holds your business responsible for any construction made under your supervision and is mandatory for the activation of your license.
The bond ensures that applicants complete the grading and excavation project following the standards, and guarantees the compensation of the public in the event of property damages.
How does it work?
The parties in the agreement are the Surety or Bond Company or the insurance company issuing any surety bond; the Principal or the business or applicant wishing to obtain a bond; and the Obligee, the party compensated for, in this case, the City of Whittier.
The Surety Company will guarantee the compensation (performance bond) of the Obligee should the Principal fail to deliver agreed upon services or violate any licensing provisions. The Surety Company will receive and assess the validity of all public claims where compensation may only amount to the total penal sum agreed upon in the bond form.
The validity of claims are received and determined by the Bond Company directly, acting as an independent third party in the process. All paid claims, including the premiums and legal fees, must be reimbursed by the Principal to the Bond Company. The surety provider’s reimbursement is ensured through an indemnity agreement made prior the execution of the bond. Failure to comply suspends the business’ license indefinitely.
How much does it cost?
The cost of the surety bond amount will depend on the business owner’s personal credit, license history, and experience. The City of Whittier Grading Permit Bond itself normally costs between $500 and $5,000. The City of Whittier has set the total Grading Permit Bond to $50,000.
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 grading permit ready, you are going to have to secure your bond early. 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!