What type of Bond is this?

[Bond Guy]

I was wondering if you could answer a few questions regarding financial surety bonds. My husband and I are constructing a custom home in Lake Oswego, OR currently and are required to put in a public sewer extension next to our property. The City of Lake Oswego requires the owner (us) to post a bond for 120% of the sewer construction cost (about 95k) to ensure that the money required to complete the job is guaranteed. My questions are: Do I need a Financial guarantee surety bond (is this the right type of bond)? If so, does your company provide these for private, non-corporate individuals? If so, what is the process to obtaining a bond of this kind? How long does it take to obtain the bond?

[Surety Queen]

Originally Posted by Bond Guy

I was wondering if you could answer a few questions regarding financial surety bonds. My husband and I are constructing a custom home in Lake Oswego, OR currently and are required to put in a public sewer extension next to our property. The City of Lake Oswego requires the owner (us) to post a bond for 120% of the sewer construction cost (about 95k) to ensure that the money required to complete the job is guaranteed. My questions are: Do I need a Financial guarantee surety bond (is this the right type of bond)? If so, does your company provide these for private, non-corporate individuals? If so, what is the process to obtaining a bond of this kind? How long does it take to obtain the bond?

The type of bond requirement you are describing sounds like a site improvement or subdivision bond. And, you're in luck! We do handle that type of bond. To learn more about this bond and to apply, please visit the following link.
Subdivision Bonds - Surety Bond Types