What is a Paving Bond?
Paving contractors operating within the city limits of Dallas are required to be bonded in order to pull permits. Paving jobs may include the new construction, repairs, and reconstruction of:
- Sidewalks
- Driveways and turnouts
- Curbs and gutters
What is the bond for, and how does a contractor purchase the bond and apply for a permit? The following guidelines can help make the process smoother so you can deliver projects on time, guarantee satisfaction, and help your business’s bottom line.
Why Purchase a Paving Bond?
The purpose of a bond is many-faceted, often providing financial protection and a measure of security to the bondholder, their customer, and other invested parties. In the case of a paving bond, the following benefits are the reason why it is a requirement:
- A guarantee. The bond serves as a guarantee in case the contractor doesn’t follow the city’s specifications for paving works. If a dissatisfied customer makes a claim against the city due to a contractor’s failure, the bond may cover expenses.
- A protection. The bond also protects the city against litigation or other claims in the event someone is injured on a paving job.
- Maintenance. The bond supports maintenance costs for up to five years.
Paving Bond Details
Paving bonds of $10,000 are required before applying for a permit. While the cost may vary by provider, a paving bond generally costs about $100. It is essentially an agreement between three parties:
- The principal or bondholder: the paving company
- The obligee: the city of Dallas’s Department of Public Works and Transportation
- The surety: the surety provider who sells the bond
How to Purchase a Bond and Apply for a Permit
- Apply for a Paving Bond from a reputable surety provider. TMD Surety Bonds, for example, allows you to apply or request a quote online. Ensure the surety provider uses the official City of Dallas Paving Bond Form since this is the only one accepted by the city of Dallas’s Department of Public Works and Transportation. It must carry the seal of a bonding or insurance company. A notary seal will not be accepted.
- Ensure the plans comply with local ordinances. Paving work in the city of Dallas must comply with the standards set forth in the 251d-1 document.
- Apply for your permit(s). Forms can be obtained from the city hall or online. There is a handy checklist available to help prevent redundancies or wasted efforts.
TMD Surety Bonds is one of the leading bond providers in Texas, based out of Fort Worth. Online services are convenient, reliable, and professional. Contact TMD Surety Bonds today or request a quote online.
TMD Surety Bonds is one of the leading bond providers in Texas, based out of Fort Worth. Online services are convenient, reliable, and professional. Contact TMD Surety Bonds today or request a quote online.
- 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
There are hundreds of different bonds for all kinds of purposes—but regardless the industry or project—they all operate essentially the same way. A surety bond guarantees that you will operate professionally and if you break the rules, a claim can be made on your bond which you’re responsible to pay.
For most bonds, you can get instantly approved and print bonds at your home or office. However, we do not offer instant approvals for a select number of bonds, as the underwriting process generally involves a more extensive review of the applicant.
For the most part, yes. Bad credit can increase rates for license and permit bonds and most can also get approved for fidelity bonds regardless of credit. For contract bonds, larger contractors with poor credit can be approved with strong CPA-prepared business financials.
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!