Site Improvement Bond
What is a Site Improvement Bond?
A Site Improvement Bond is a type of Contract bond that ensures that developers complete site improvements, such as landscaping, parking, and drainage systems, in accordance with state and local regulations.
Protects public interests by ensuring proper development and completion of site improvements within projects.
Required by state and local governments for developers to ensure responsible development and completion of site improvements.
Applicant’s personal or business information, credit history, bond amount, and project details.
Based on credit history and bond amount, usually 1-5% of the bond amount.
