Petaluma City Encroachment Permit Bond
Constructing a project can alter and even damage public property. An encroachment permit assures that repairs and construction that involves the public right-of-way meet the City standards of the city – in this case, Petaluma. Encroachment is defined by the State of California as any implement or event covered in the city right-of-way.
What is an Encroachment Permit?
The City of Petaluma requires an encroachment permit whenever the business or applicant encroaches in the public right-of-way. This is to regulate the right-of-way, easement, or any development affecting public areas and that construction works are performed to meet city standards. Types of work that will require a permit include sidewalks, underground utilities, temporary placement for scaffolding, dumpsters, storage bins, or debris boxes.
The criteria for when you should apply for an encroachment permit is different in every municipality. The Petaluma City website provides all the requirements and other information regarding the permit.
What is the City of Petaluma Encroachment Permit Bond?
Similar to any type of encroachment bond, it is a legal agreement that Petaluma City is compensated for any damages done or inconvenience caused on public right-of-way by the applicant.
Filing for an encroachment bond with the City of Petaluma insures the safety of the public during the construction process. 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 (Petaluma 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 Petaluma Encroachment Permit Bond, you will have to pay between 1.0% and 5.0% of the bond amount. Costs will depend on credit and license history, and experience of the business or applicant.
Want to know your standing? Visit here and get your surety quote 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
- 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!