Contractors who conduct work in Lyndhurst, Ohio, must register with the city and furnish the city with a $20,000 surety bond.
AmeriPro Surety Bonds offers this as both a new and renewal surety bond.
The following contracting specialties are required to obtain the Lyndhurst contractor bond:
This list is not necessarily all encompassing. You will want to contact the city of Lyndhurst to see if you are required to purchase a surety bond if there is any question.
The Lyndhurst contractor bond is required as a financial guarantee on behalf of and in favor of the city of Lyndhurst, Ohio, and its residence, not the contractor.
The bond is a financial guarantee that contracting work performed in the city (whether by the contractor, subcontractor or any employees) will be up to Code as stated in municipal ordiances.
The bond furthermore holds the city harmless for any failure to meet the standards of the code, and which consequently results in some type of harm.
While the surety bond guarantees that work will be done to meet the code, your Lyndhurst contractor bond is not an insurance policy.
What this means is that if claim were ever filed on your bond and paid by the surety, it is your legal obligation to reimburse the surety in full for all costs and fees involved in the settlement of that claim.
The Lyndhurst contractor bond will typically cost you anywhere between $100 to $200 annually, if you undergo underwriting along with a credit check.
For those who forego the credit check, there is a flat rate for this bond as well.
Once issued, by statute the Lyndhurst contractor bond expires on December 31st of the year in which it is issued, unless purchased very late in a calendar year.
AmeriPro Surety Bonds is a surety bonds only agency. We provide contractor bonds throughout Ohio.
Our agency also provides license and permit, court, and fiduciary bonds in Ohio and nationwide.
Please call AmeriPro Surety Bonds today at:
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