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Subdivision Surety Bond Programs

South Coast Surety
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Providing Developers Responsive and Responsible Sub-Division Bond Support for over 2 decades

 

Subdivision / Developer Bonds

 

Subdivision/Improvement Bonds - Site Improvement Bonds

Developers frequently use surety bonds as performance guarantees for subdivision projects. These bonds are often referred to as "subdivision bonds", "performance bonds," "site improvement bonds," "completion bonds," or "plat bonds."

Developers start the subdivision process by filing maps (sometimes referred to as plats) with the public agencies responsible for overseeing land use where the projects are located. These maps show the proposed configuration of the project, including public improvements necessary to serve the project. Public improvements may include curbs and gutters, streets, sidewalks, utility lines, landscaping and storm drains. These will become the property of the public entity once the work is completed.

Generally, installation of public improvements is a condition imposed on a developer for the project to proceed, and the developer is required to furnish acceptable security to guarantee completion and payment of the work.

Subdivision bonds are different from the more common performance bonds used for construction projects. With subdivision bonds, the owner of the project provides bonds to the public agency to guarantee the installation of improvements that will ultimately be dedicated to the public but paid for by the owner/developer!

" Subdivision Bonds include performance bonds,
 site improvement bonds,
completion bonds,
and plat bonds"

 
Not all sureties write subdivision bonds.  

South Coast Surety and the surety companies we represent are well experienced in  providing developer bond support.

 

Click Here for your Subdivision bond applications 

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