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