The Missouri right of way surety bond is a performance bond which may be required of you by the state’s Department of Transportation.
The right of way surety bond may be required of the following categories of work, as per the Department:
And other projects as judged necessary.
According to current regulations, the Missouri right of way bond is at least $1000.
Applicants for this bond will need to supply our agency with the bond amount required for their particular project.
For the lowest surety bond amount, $1000, the premium amount begins at $100; however, typically for surety bond amounts which are $10,000 and above, the amount is generally about 2% of the bond’s amount.
Information provided on a standard surety bond applicant will help determine the amount required.
This right of way performance bond is active for one year from the date of issuance. However, the Department may release your bond is the project is completed beforehand.
The Missouri right of way bond is a performance bond. The bond therefore exists as a guarantee for the state of Missouri that you will be in compliance with all instructions from the Chief Engineer of the Missouri Highway and the Transportation Commission.
The bond furthermore guarantees that you will not cut or remove trees without express permission of the Department; that you will perform the work required at the satisfaction of the District Engineer; that you will not adversely affect public safety; and that your work will not interfere with the maintaining of the highways.
As principal of this performance bond, if any claim were paid against your bond, you would be required to indemnify the surety for any losses.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, fiduciary, and court surety bonds throughout Missouri.
Our agency also provides surety bonds nationwide.
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