A Site Improvement bond are a type of Contract bond that refers to the upgrade (improvement) of an older or already existing property or project. More specifically these bonds are required by government authorities when a project effects public property that will be improved through the private sector. This bond guarantees that this private project will be undertaken and all improvements made and methods follow the local, state, or federal code and regulations as required. It obligates the Principal (the party performing the improvement) and the Surety (who issued the bond) to work under these established conditions.
Site Improvement bonds are related to, but different from Subdivision bonds. The principal difference being that Subdivision Development bonds related to planned or future projects that must be bonded to receive a building permit and Site Improvement bonds are for per-extisting structures.
Should you require improvements on your older buildings, fill out our easy 3 step Surety Quote and find out how All Surety Bonds can help you with all your bonding needs.
Our ultimate goal is to provide our customers with an easy, fast, and professional experience, thus ensuring their statisfaction. Our performance is guaranteed!