Fresno California Relocation Permit Bond
Know why this bond is required and how to easily get one!
What is a Fresno California Relocation Permit Bond?
Before a building or structure can be relocated within the City of Fresno, the person who will be performing the work must first obtain a relocation permit.
One of the requirements for the said permit that must be submitted to the Director of the Development Department of the City of Fresno is this bond.
Compliance of the permit applicant to the provisions of the permit is the main reason why this bond is required. The City of Fresno would like to be assured that the permit holder will perform the work in accordance with the relevant laws of the City of Fresno.
This requirement is in pursuance of Article 2, Chapter 13 of the Fresno Municipal Code.
How does a Fresno California Relocation Permit Bond work?
There are three parties involved in this legally enforceable agreement: Principal, Obligee, and Surety.
The principal is the permit applicant. He or she will be obligated to perform the obligations stated in the contract. The obligee is the City of Fresno. The obligee is the party requiring the bond. The guarantee regarding the completion of the project by the principal is provided by the surety.
The surety will step in and compensate the obligee if the principal fails to perform the duties required. But before compensation is made, the surety will first validate the claim. Once the claim has been validated and the payment is made, the principal will reimburse the surety.
How much does a Fresno California Relocation Permit Bond cost?
The bond cost or bond premium will be a small percentage of the bond amount. The bond amount will vary per applicant. It will be determined by the Director of the Development Department of the City of Fresno.
Bond costs will depend on the permit applicant’s credit score. If the permit applicant has an excellent credit score, he or she will only need to pay 0.5% of the total bond amount as bond cost.
Have you determined your bond amount? Check out your bond cost by getting your FREE SURETY BOND QUOTE HERE!
How can I get a Fresno California Relocation Permit Bond?
We have made the surety bond procedure easier for you! Just follow these simple steps:
STEP 1: You must first apply for this type of surety bond. If you are ready to do that now, you may APPLY HERE!
Once we have received your application, we will immediately start the bonding process. We will inform you about the important documents that you need to submit for the next step, which is the underwriting process.
STEP 2: An underwriter will take a thorough look at the following:
- Your financial strength
- Your job performance history
- Your credit score
STEP 3: After the underwriting process has been fulfilled, we will issue your surety bond and send it to you immediately!
APPLY HERE today!