What is a Street Contractor Bond?
The city of Abilene, Texas, requires street contractors to purchase a $1,000 bond before applying for permits. Who is considered a street contractor? Street contractors are contractors who build, repair, or reconstruct any of the following:
- Streets and alleys
- Sidewalks
- Curbs and gutters
- Driveways and turnouts
Since these jobs are considered to affect the public right-of-way (ROW), permits are obtained through the Public Works Department’s Engineering Division. Why is a bond required, and where can a contractor purchase it?
Why Purchase a Street Contractor’s Bond?
When street contractors carry a bond, it serves as a financial protection for the city. The contractors and their clients benefit, too, since it can cover errors, unintentional damages, and maintenance.
- Financial protection. The city of Abilene has strict standards for the design of streets and infrastructure. In the event that a contractor’s work does not meet the requirements or if errors or unintentional damage to public property occurs during construction, the bond may be used to cover the expenses of a claim.
- Peace of mind. Street contractors that purchase the applicable bond also give their customers peace of mind and a sense of security.
Bond Details
Street contractors must purchase a $1,000 bond before obtaining a permit. The bond establishes an agreement between the following three parties:
- The bondholder or principal: the street contractor
- The obligee: the city of Abilene’s Department of Public Works, Engineering Division
- The surety: the surety provider or insurance company that issues the bond
Pay for the bond type requested. TMD Surety Bonds offers the $1,000 bond to street contractors for a flat rate of $100.
Receive the original bond. Once you’ve paid, TMD Surety Bonds will provide you with the original proof of bond the city requires to apply for a permit.
Pay for the bond type requested. TMD Surety Bonds offers the $1,000 bond to street contractors for a flat rate of $100.
Receive the original bond. Once you’ve paid, TMD Surety Bonds will provide you with the original proof of bond the city requires to apply for a permit.
TMD Surety Bonds has rapidly become one of the top bond providers in the Dallas/Fort Worth area. If you are unsure what you need or you are looking for a very specific bond, such as a street contractor’s bond for the city of Abilene, the professionals at TMD are here to help. Contact us today or submit a request for 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
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.
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.
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!