Pendleton City Street Excavation Bond - $2,500

The State of Oregon’s legal glossary defines an excavation as an operation which displaces land below the ground by any means. This does not cover those that are less than 12 inches of depth in sidewalks, roads, and ditches. Considering environmental integrity, public safety, and other risks from street excavations, the Pendleton City Street Excavation Bond serves as binding force for excavators to adhere to the terms and regulations for public places.

What is the Pendleton City Street Excavation Bond?

The bond ensures that the approved applicants will faithfully observe and comply with the laws and regulations in relation to street excavation in the city, which includes Ordinance No. 2287, an ordinance regulating the opening and excavating of public places, and Resolution No. 2194, which requires the restoration of the street after the operation for it to not be obstructive of travel afterwards. The state of Oregon sets the total bond amount for this bond type at $2,500.

Why do you need the Pendleton City Street Excavation Bond?

The bond is a prerequisite prior the beginning of any excavations that will be performed in the streets of Pendleton City. In addition to the legal compliance, the applicant is guaranteed the following benefits:

Good reputation of your company
Financial security and credential boost
Available full line of credit
Confidentiality of your transactions - unless required by law
Access to professional advice or counseling from lawyers, estimators, and similar professionals

How does the Pendleton City Street Excavation Bond work?

The parties in the agreement are the Principal (business or permittee), Obligee (Pendleton City), and Surety Company or Obligor (surety bond carrier). The bond must be filed with the City of Pendleton and must be issued by a surety bond provider certified by Oregon’s Insurance Department.

The Surety Company will guarantee the compensation of the Obligee in case the Principal fails to deliver agreed upon services or violate any licensing provisions. The Surety Company 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 Surety Company.

How much does it cost?

The Pendleton City Street Excavation Bond will typically cost around $100. The cost will normally depend on the following:

Applicant’s credit score;
Industry experience;
Business history; and,
Surety provider’s background

Preparing to secure this bond type? Get a more accurate quote of the bond here!

How can I secure the bond?

Get your Pendleton City Street Excavation Bond quickly and hassle-free by transacting with a reputable surety bond provider. Get in touch with us today to get your surety bond related questions answered and to secure proper licensing in no time!

For the speedy processing and issuance of your bond, make sure you have gathered and provided accurate information on the following:

Nature of your business
Credit Score
Financial strength

Rest assured our expert surety bond agent will guide you from the time of your application until the issuance of your bond. Once the assessment is done, we will promptly issue your bond and send it your way!