Right of Way/Highway/Encroachment Bond
Serving Dallas, Fort Worth, Carrollton, Arlington, Austin, El Paso, Houston, San Antonio, Irving, Plano, Grand Prairie and throughout Texas.
If you do any construction or contract work in Texas, you may need a Right of Way, Highway, or Encroachment Bond.
Who Needs These Bonds?
A Right of Way bond is put in place to ensure the safety of the public and the city, and guarantee that the public has the right of way.
A Highway bond guarantees the payment of any taxes or fees by any company that uses public highways for work. This bond usually applies to construction or commercial projects, such as highway construction and maintenance, as well as commercial trucking companies. Vehicles over a minimum weight are required to hold this bond.
An Encroachment bond is needed when private construction or a contracted project may go onto public property that is owned by the city or state.
What Do These Bonds Do?
While slightly different in nature, a Right of Way bond, a Highway bond, and an Encroachment bond are all put in place to protect the public and public property. The bond holder must protect and preserve the public property that is adjacent to the worksite.
If the bond holder doesn't abide by the terms of the bond and a claim is filed, then your surety company will cover the claim.
How Much Does the Bond Cost?
The cost of the bond, or the premium, varies and is determined by the amount of your bond coverage. The condition of the property that is near your private work site also may impact your costs.
What You Need to Apply
When applying for a Right of Way bond, a Highway bond, or an Encroachment bond, you may need to provide:
- A financial statement
- A copy of the engineer's estimate
- A copy of your bank statement
If you suspect you may need a Right of Way bond, a Highway bond or an Encroachment bond, contact us to get started or apply online now.