A subdivision or site-improvement bond is a type of performance bond that serves as a protection to both the project owner and the financial institution involved in the agreement. This bond guarantees the completion of improvements instead of the fulfillment of a contractor like other performance bonds often do.
If you’re an experienced contractor or developer looking to apply for a subdivision bond, you can use this subdivision bond application to get started.
The more information you can provide on the subdivision bond application, the easier it will be to move through the bond approval process.
Subdivision bonds can be complex because they come with dual obligees—the project owner and the financial institution—and as a result, a higher risk. However, these bonds ultimately serve a public need and our team is happy to be part of the process. If you have questions when filling out your subdivision bond application, please contact us.