Contractors who wish to conduct contracting work in Niles, Ohio, must furnish the city with an application, the appropriate fees, insurance in some cases, and a $10,000 surety bond.
AmeriPro Surety Bonds offers this bond as both a new and renewal surety bond. We offer this surety bond as an “instant issue”.
The purpose of the Niles contractor bond is to serve as a financial gaurantee.
The financial guarantee holds the city harmless from any negligence of duty, performance of work which is substandard or not up to Code, and thereby causes some physical harm.
The bond guarantees your compliance, specifically, with Chapter 1500 of Codified Ordinances for the city of Niles.
The bond’s protections, which, again, are for the city of Niles and its residents, extends also to any work done by those whom you subcontract or maintain as employees of your contracting business.
While the bond is required for contracting in the city, it is not an insurance policy (which is also required for certain specialties).
Therefore, in the event that a claim is paid from your surety bond, you would be legally responsible to reimburse the surety in full for all costs and fees involved in the settlement of your claim.
The “instant issue” $10,000 Niles contractor bond is just $100 annually.
By “instant issue” is meant that once the application is completed, and the premium is paid, the bond is issued immediately.
There are no credit checks and underwriting involved in the bond’s purchase.
The application takes about 4 minutes and can best be completed with one of our agents over the phone.
The bond’s term is March 31st of the year in which it is purchased.
For bond’s purchased with an effective date after March 31st of the calendar year, the expiration date is the following March 31st.
AmeriPro Surety Bonds is a surety bonds-only which provides contractor surety bonds throughout all municipalities, cities, and counties in Ohio where this is required.
Our agency also provides you with other categories of surety bonds as required.
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