{"id":123,"date":"2020-10-06T15:22:37","date_gmt":"2020-10-06T10:22:37","guid":{"rendered":"https:\/\/www.bondingspecialist.com\/blog\/?p=123"},"modified":"2023-10-27T20:00:57","modified_gmt":"2023-10-27T20:00:57","slug":"what-is-a-subdivision-bond","status":"publish","type":"post","link":"https:\/\/www.bondingspecialist.com\/blog\/what-is-a-subdivision-bond\/","title":{"rendered":"What is a Subdivision Bond?"},"content":{"rendered":"\n<p class=\"has-text-align-left\">A <a href=\"https:\/\/www.bondingspecialist.com\/subdivision-bonds\">subdivision bond<\/a> is typically purchased by a landowner or developer when upgrades and\/or changes are required by a local government authority. It guarantees the work is completed according to the terms set forth.&nbsp;In the agreement with the city, township, or municipality.<strong><\/strong><\/p>\n\n\n\n<p><strong>Examples of Subdivision Bonds<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Street improvements (grading, paving, curbs, gutters)<\/li>\n\n\n\n<li>Sidewalks<\/li>\n\n\n\n<li>Storm drains<\/li>\n\n\n\n<li>Water mains<\/li>\n\n\n\n<li>Sewers<\/li>\n\n\n\n<li>Landscape<\/li>\n\n\n\n<li>Erosion control<\/li>\n\n\n\n<li>Subdivision monumentation<\/li>\n<\/ul>\n\n\n\n<p>These bonds provide financial assurance that the landowner will find and complete improvements through parcel land development.<\/p>\n\n\n\n<p><strong>Key parties involved in subdivision bonds:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Principal: the landowner\/developer<\/li>\n\n\n\n<li>Obligee: the city or municipality<\/li>\n\n\n\n<li>Surety: the underwriter of the subdivision bond<\/li>\n<\/ul>\n\n\n\n<p>A percentage of the engineer\u2019s estimate for improvement costs are used to determine the subdivision bond amount. Subdivision bonds renew annually until a point at which the public entity requiring the bonds provides a release of the bond obligation to the surety.&nbsp;<\/p>\n\n\n\n<p>At <a href=\"https:\/\/www.bondingspecialist.com\/surety-bond\">Construction Bonding Specialists,<\/a> we work with new and experienced contractors to find the most satisfactory bond solutions. As a distinct surety-bond-only agency with decades of bonding experience, we work to discover bond solutions for all types of bond cases ranging from ordinary to challenging. <a href=\"https:\/\/www.bondingspecialist.com\/surety-bond-company\">Contact us<\/a> or call <a href=\"tel:2483496227\">248-349-6227<\/a> today.<\/p>\n\n\n\n<p><em>Written by the digital marketing staff at Creative Programs &amp; Systems: <\/em><a href=\"https:\/\/www.cpsmi.com\"><em>www.cpsmi.com<\/em><\/a><em>. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A subdivision bond is typically purchased by a landowner or developer when upgrades and\/or changes are required by a local government authority. It guarantees the work is completed according to the terms set forth.&nbsp;In the agreement with the city, township, or municipality. Examples of Subdivision Bonds These bonds provide financial assurance that the landowner will&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15],"tags":[],"class_list":["post-123","post","type-post","status-publish","format-standard","hentry","category-surety-bonds"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What is a Subdivision Bond? - Blog | Construction Bonding Specialists<\/title>\n<meta name=\"description\" content=\"A subdivision bond is typically purchased by a landowner or developer when upgrades and\/or changes are required by a local government authority.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bondingspecialist.com\/blog\/what-is-a-subdivision-bond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is a Subdivision Bond? 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