What is a Parkway Contractor’s Bond?
With the vibrant city of Fort Worth, Texas, comes a unique bond requirement for contractors working within the city’s right-of-way limits, specific to parkways. That requirement is to obtain a city of Fort Worth Parkway Contractor’s Bond to guarantee the completion of their paved beautification projects. This financial guarantee assures the city and its citizens that the contractor will fulfill all contractual obligations and keep local roadways safe by using up-to-date materials, emissions standards, and other regulatory codes. The bond also serves to ensure that any damages or changes made in accordance with roadway improvements are paid directly by the contractor — not the taxpayers! With this type of insurance, both Fort Worth and its contractors can support safe and reliable construction throughout its growing neighborhoods.
What Is a Contractor Bond?
A contractor bond is a surety bond required by many state and local government entities to protect public funds from unauthorized or illegal use by contractors. Essentially, a contractor bond guarantees that a contractor will fulfill all contract obligations and protects consumers from financial loss in the event of any breaches, non-compliance, or other malfeasance. The surety company indemnifies the obligee (usually a government entity) up to the full penal sum of the bond in cases where the principal fails to comply with the terms of their contract. All costs associated with defending against a claim are borne by the surety company should a claim arise. In other words, contractor bonds serve as an important layer of protection for contractors, consumers, and government agencies alike!
Pricing & Terms
Surety bond costs are a percentage of the full bond amount, which is usually determined by your personal credit. Providing industry experience, strong personal credit, and business/personal financials will help lower your bond rate. Reach out for a quote today.
Contractors performing work on parkways in Fort Worth must meet the following requirements:
- $10,000 Parkway Contractors Bond with power-of-attorney documentation
- Contractor registration application
- Licensing fee of $500
- Certificate of liability insurance with $10 million umbrella coverage
For a detailed list of requirements and related information, including application submission guidelines, online payment instructions, fee schedules, and review timelines, visit the Fort Worth Contractor Registration webpage.
The City of Fort Worth (TX) Parkway Contractor’s Bond is instantly approved and costs just $100.
Click the button below to purchase your City of Fort Worth (TX) Parkway Contractor’s Bond today.
Contractors performing work on parkways in Fort Worth must meet the following requirements:
- $10,000 Parkway Contractors Bond with power-of-attorney documentation
- Contractor registration application
- Licensing fee of $500
- Certificate of liability insurance with $10 million umbrella coverage
For a detailed list of requirements and related information, including application submission guidelines, online payment instructions, fee schedules, and review timelines, visit the Fort Worth Contractor Registration webpage.
The City of Fort Worth (TX) Parkway Contractor’s Bond is instantly approved and costs just $100.
Click the button below to purchase your City of Fort Worth (TX) Parkway Contractor’s Bond today.
- Click the Buy Now button.
- Fill out the easy bond form.
- Confirm your order and select how you would like your bond documents delivered. Email or regular mail.
- Pay for your bond.
- If you chose to have your documents emailed, you will receive them within minutes.
It’s that simple and fast!
Bond Purchase Process
1. Find Your Bond
2. Secure Pricing
3. Buy Online
Get Started
The bonding process can be confusing and cumbersome. Our surety bond experts are standing by and ready to answer any questions. Let’s get you bonded today!
Frequently Asked Questions
It’s a guarantee that you will complete the work and fulfill your contractual obligations. Think of it as insurance for the public, not your business.
The entity requiring the bond (the obligee) will determine whether a bond is required. Bond requirements vary greatly by your occupation and location. However, fidelity bonds are insurance and are usually optional to obtain.
It’s a legally binding contract that you must sign to obtain a surety bond. The agreement guarantees that if you cause bond claims you will pay them in full.
Looking to Get Started or Have Questions?
The bonding process can be confusing and cumbersome. Our surety bond experts are standing by and ready to answer any questions. Let’s get you bonded today!