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New York – Babylon Street Excavation Bond

The Babylon street excavation bond is offered for 1% (min. $100) of the surety bond amount required. Please call AmeriPro Surety Bonds at 844-589-9732.

New York – Babylon Street Excavation Bond

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Babylon, New York —Excavation Permits; Purpose of the Surety Requirement

 

 

 

According to § 117-10 of Babylon, New York, City Ordinances, to obtain a permit for street excavations, you’ll first need a surety bond.

The purpose of the bond is simple: It is to hold the city of Babylon harmless from any damage caused by the your excavation activities. The bond protects the city from any contractors, employees, or subcontractors whom you may hire in connection with the excavating.

 

 

 

Determining Amount of Excavation Surety Bond Required

 

 

 

  • The Babylon street excavation surety bond is a minimum $5000 bond for areas 10,000 square feet and less.
  • For each area greater than 10,000 square feet, the excavation bond increases by an additional $1000 for each additional 10,000 square feet, or a part thereof of that amount.

 

 

 

Qualifying and the Premium

 

 

 

You are automatically approved for any amount of the Bablyon street excavation bond up to $50,000. With a minimum $100 premium, the cost of your bond will be 1% of the amount required annually.

Amounts greater than $50,000 would require completion of a signed, short surety bond application, an underwriter review, and approval to be granted based on good credit. The rate of 1% would still be applicable.

After your bond has been approved and payment received, our agency issues your bond to you immediately. Included with your bond will be a Power of Attorney form, and a document notarized by our agency as Surety.

Upon receipt of the original document, you’ll notarize your bond as Principal, filing all documents received to:

The Town of Babylon

200 E. Sunrise Highway

Lindenhurst, NY 11757

631-957-3000

 

 

 

Premium Prepayment Options

 

 

 

Your bond may be prepaid for a number of years, thereby offering you a savings over annual renewals of the premium.

Since the bond form requests how long you require the permit, it may be a wise idea to prepay the premium, if you anticipate your excavation to last longer than one year.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, probate, and other surety bonds in New York, and all 50 states.

Please call our agency today at:

 

844-589-9732

 

Or, you may fill out the form below and a Surety Agent will contact you….

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AmeriPro Surety Bonds

Our focus is exclusively surety bonds. We have two areas of concentration: YOU, our customer; and providing you with the surety bond that you need. Whether the bond is an "instant issue"; is for a contractor; a court bond; or one for a client with lower credit scores, AmeriPro Surety Bonds dedicates itself to providing our customers with a seamless, professional, and quick surety bond experience.

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