County of Tulare Encroachment Permit Bond
When construction work could encroach onto public property, it is mandatory that businesses in the County of Tulare to file an Encroachment Permit Bond to activate their license. In the event a contractor damages or alters any property of the Obligee (County of Tulare), the bond stipulates that the Principal (business) provides compensation.
What is an Encroachment Permit?
An encroachment permit is typically required to commence construction work when the contractor is set to use any part of the RROW or road right of way. It is especially required when there is potential conflict with right of way, including water lines, sewer facilities, drainage, and roadways.
The County of Tulare has their own specific rules on when you should secure an encroachment permit. You can check if your project will require on the Local Government of Tulare County website.
What is the County of Tulare Encroachment Permit Bond?
Similar with any type of encroachment bond, it provides a legal contingency that the County of Tulare 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 County of Tulare, 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 or working condition.
How does it work?
The bond must be issued by a surety bond provider certified by the Tulare County Insurance Department. The parties in the agreement are the Principal (business or permit applicant), Obligee (County of Tulare), and Surety/Bond Company or Obligor (surety bond provider or insurance).
The Bond Company 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?
County of Tulare Encroachment Permit bonds typically will cost you 0.5% of the bond amount. Credit score is not assessed to apply for an encroachment bond.
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
- 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!