San Luis Obispo City Curb, Gutter, Sidewalk and Road Improvements Bond
The City of San Luis Obispo requires businesses within the municipality to file for bonds prior the conduct of any curb, gutter, sidewalk, and road improvements to activate their licenses. The permits will serve for the protection of the public and guarantee their compensation should accredited businesses cause licensing infractions affecting city property or limits in the course of their development.
What are the permit requirements to conduct curb, gutter, sidewalk, and road improvements in the City of San Luis Obispo?
Prior the conduct of any improvement in the city’s right-of-way, permittees must first secure an encroachment permit. An encroachment permit is required before executing any kind of public work including improvements affecting the right-of-way (e.g. curbs, gutters, sidewalks, and roads) or easement. The licensing requirements must be concluded before the final approval and use of the new construction.
All improvements shall follow the design and construction standards prescribed by the City Engineer. To know more about the requirements, you may read the city’s municipal code or visit the City Hall.
What is the San Luis Obispo City Curb, Gutter, Sidewalk and Road Improvements Bond?
Prior any work in the public right-of-way, involved businesses must first secure an encroachment permit from the engineering division of San Luis Obispo, pending for the city council’s approval. Anyone who wishes to get the permit must file for a faithful performance surety bond to ensure that they can and will execute work following the agreement. This effectively secures the public from damages and financial losses during the course of the project.
How does it work?
City of San Luis Obispo Curb, Gutter, Sidewalk, and Road Improvements Bond must be issued by a surety bond provider certified by the California Department of Insurance. The parties in the agreement are the Principal (permit applicant or business), Obligee (San Luis Obispo), and Surety/Bond Company or Obligor (surety bond provider/insurance).
The Obligor will guarantee the compensation (performance bond) of the Obligee should the Principal fail to deliver agreed upon services or violate any licensing provisions. The Obligor will receive and assess the validity of all public claims where claims may only amount to the total penal sum arranged in the bond form. The Principal shall reimburse all expenses covered by the Obligor.
The Obligor is secured through an indemnity agreement as the permit applicant or licensed business will ensure the full reimbursement of the claims, including legal fees and premiums. This agreement shall be made before the execution of the bond.
How much does it cost?
The bond for San Luis Obispo Curb, Gutter, Sidewalk and Road Improvement is set at 0.5% of the total bond amount.
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 secure your licenses, you must apply for 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!