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I am building a new house and the city has asked me for a bond for trees. They asked me for a bond for $34,500 to make sure that nothing happens to the trees. What type of bond is this and do you do such a bond? How much will this bond cost me if you even do something like this? |
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It sounds like they are requiring a site-improvement bond. The cost of the bond (referred to as the premium) is a percentage based on the bond amount. The rate you are written at depends on the assessed risk of the guarantee.
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