Contractors are required by certain local governments to get a subdivision or municiaplity bond when starting a project building a subdivision. Subdivision developer bonds are a type of performance bond that guarantees you will finish all your work within a given time frame outlined in your contract. If you don't complete your improvements on time, the developer surety bond covers costs and losses for the municipality.
Contractors working on subdivision projects are required to obtain this contract surety bond.
The cost depends on the size of your project and your business history and financial health. Contact our contract bond team today and we'll help you get the best rates avaiable in all 50 states.
Call 800-361-1720 or fill out the short form below and we'll quickly reach out to learn more about your project. Once we have enough information, we'll get you a free bond quote.
The key difference between subdivision bonds from regular contract performance bonds is that the owner/developer (the principal) has to pay the cost of building the bonded improvements rather than the public agency (the obligee).
Not all sureties write subdivision bonds. South Coast Surety and the surety companies we represent are well experienced in providing developer bond support. Give us a call today at 800-361-1720 and discuss your bonding needs with a subdivision bond specialist.
We can quickly help you with the following, at no charge:
South Coast Surety has been proudly providing surety support to all fifty U.S. states for twenty years. Starting out as a small agency with a dream in San Clemente, California, we have steadily grown into one of the largest bond-only agencies in the nation. We write all commercial bonds and contract bonds for every American business and industry. Our greatest achievement is helping our clients grow their business alongside our own through coaching and obtaining larger bonding limits at the best rates. We work hard for our clients and take pride in bonding businesses that have been declined by our competitors.