What is a Wisconsin Tree-Brush Trimmer Bond?
Tree and brush trimming is not an easy task; there are professional services that take up such jobs. These businesses have their own specialized equipment required to pick the lumber and tree branches.
Many tree and brush trimmers need additional coverage beyond insurance policies. They are in the contracting business after all; therefore, their customers know there is a risk that the tree-brush trimming contractors will not be able to fulfill their contractual obligations. This risk is covered by a surety bond.
The State of Wisconsin requires that tree and bush trimmers get the bond approved as part of their license requirements before being able to set up a business.
The Tree-Brush Trimmer Bond, a type of performance surety bond, guarantees that the tree and brush trimmer/arborist will meet all obligations specified in the bond contract.
The City of Greenbay, WI states that “an annual Tree and Brush Trimmer’s License is required of a business or person who wishes to trim, cut or grind trees, branches, brush, leaves, stumps, or roots within the private property in the city limits.”
What are the bond conditions?
- The bond must be issued by a Surety authorized to conduct business in Wisconsin, particularly in the City of Greenbay.
- The Obligee is the City of Greenbay Department Of Public Works.
- If the Principal fails to meet the contract obligations, the Surety will compensate the Department up to the penal sum of the bond. The Principal will reimburse the Surety of the amount that was paid out.
- The City of Greenbay requires this surety bond for all active licenses, new licenses, and renewal/reactivation of licenses.
What is the bond amount?
Along with the $25 license fee (cash or check) to be submitted to the City Clerk, the City of Greenbay, WI requires tree trimmers and arborists to submit a performance bond.
The bond amount is currently set at $1,000 and must be submitted to the City’s Risk Management Office.
The cost of the bond is a percentage of the bond amount (1%-5%). The percentage will be your bond premium, where the price will depend on an in-depth underwriting assessment. A surety underwriter will evaluate your work history and credit score.
Learn more about your bond costs and requirements by getting your FREE quote HERE!
How do I obtain a Tree-Brush Trimmer Bond?
Here’s how to get bonded:
- You have to send an application to us. If you are ready to do that now, you may APPLY HERE!
- After we have received your application, we will ask you to submit the necessary information needed for the underwriting process. These are the following:
- Your business or job performance history
- Your credit score
- Your copy of the bond form (which can be obtained from the City of Greenbay Department of Public Works)
An expert underwriter will carefully evaluate all three to attain the best credit decision possible. To avoid any delay, the information that you should submit should be organized and concise.
- Your surety bond will be issued and sent to you!
Opening a tree and brush trimming business in Wisconsin? Contact us; we make the bond process smooth and hassle-free!