Sausalito City 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. The City of Sausalito requires businesses in the area to apply for a Grading Permit Bond in order for them to secure their corresponding permits and commence their operations.
What is a Grading Permit?
A business owner will usually need to apply for a grading permit should their business project involve activities like excavation or soil filling and the installation of new pavement and building retaining walls. Grading bond requirements are mandated by the city’s Department of Public Works for projects involving 50 or more cubic yards of soil.
For more information on the permit requirements, you may visit the office of the City of Sausalito or their website for an overview.
What is the Sausalito City Grading Permit Bond?
Prior securing your Grading Permit, the City of Sausalito will require you to file for a Grading Permit Bond. This bond is an agreement that will hold your business accountable for all constructions made under your supervision, and is mandatory for the activation of your license. It will ensure that applicants will complete the grading and excavation project following city standards, and guarantees the compensation of the public in the event of property damages.
How does it work?
The City of Sausalito Grading Permit Bond must be issued by a surety bond provider certified by California’s Department of Insurance. The parties in the agreement are the Principal (permit applicant or business), Obligee (Sausalito City), and Surety/Bond Company (surety bond provider or insurance).
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 directly by the Bond Company, 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 Bond Company 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 Grading Permit Bond in the City of Sausalito itself will normally range from 1% to 10%. This will ultimately vary depending on the applicant’s credit score and license and business history.
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.
Secure your bond as early as today to get your grading permit ready in no time. 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!