Ohio – Kettering Excavation Bond
AmeriPro Surety Bonds | 844-589-9732
Kettering, Ohio Excavation
Contractors whose specialty is excavation and who work in Kettering, Ohio, must be licensed and registered with the city (these are known as ‘right of way’ permits) and bonded.
AmeriPro Surety Bonds provides the Kettering excavation bond in an amount that you require as both a new and renewal bond.
Kettering Excavation Bond: The Amount Required
According to the city of Kettering, Ohio, the Kettering excavation bond is typically required between $200 (in which case, you can just place cash with the city) to $5000.
However, for larger projects done within the city, amounts can be exceed the $5000 surety bond requirement, in which case you may choose to purchase a surety bond.
Purpose of the Kettering Excavation Bond:
The purpose of the Kettering excavation bond is a financial guarantee which ensures your compliance with any laws and building Codes relevant to the city of Kettering, Mongtgmery and Greene Counties, or state of Ohio.
The bond’s existence is solely for the protection of the city of Kettering and its residents. This surety bond holds the city harmless for any failure on the part of licensed excavator — and any hired employees and contractors — to complete work according to any existing or future laws.
Since the bond is not an insurance policy — and since the bond’s existence is solely for the city of Kettering — any claims paid against your surety bond become your financial responsibility to reimburse in full. This includes all costs and fees associated with the settlement of any claim, should that ever arise.
Kettering Excavation Bond: The Premium and the Term
Kettering excavation bond’s which are $5,000 will cost you just $100 annually. Bonds which are for higher amounts up to $25,000, may be written for just 1% of the face amount annually.
There may not be a credit check or underwriting involved; however bonds any higher will be underwritten.
Once issued, the Kettering excavation bond is active for one year and must be renewed annually.
AmeriPro Surety Bonds is a surety bonds-only agency.
We provide contractor surety bonds throughout Ohio.
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