Why Is the Bond Required?

The bond is required by Burbank to:

1. Ensure Compliance: Guarantees that building movers follow local regulations and safety standards.

2. Protect Public Property: Covers damages to streets, sidewalks, utilities, or other public assets caused during building-moving activities.

3. Promote Accountability: Encourages responsible practices among building movers and provides recourse for affected parties in case of violations.

Who Needs the Bond?

This bond is required for:

1. Building Movers: Individuals or businesses engaged in relocating structures within or through the city.

2. Contractors Handling Building Relocations: Companies providing structural moving services as part of larger projects.

If your work involves moving buildings in Burbank, this bond is a mandatory requirement for licensing or permitting.

How Does the Bond Work?

The Burbank City Building Mover Bond is a three-party agreement involving:

• Principal: The individual or business applying for the bond.

• Obligee: The City of Burbank, which requires the bond to enforce compliance.

• Surety: The bonding company that issues the bond and guarantees payment if a valid claim is filed.

If the principal fails to meet their obligations—such as causing property damage or violating regulations—a claim can be filed against the bond. The surety may compensate the claimant up to the bond amount, but the principal is legally obligated to reimburse the surety for any payments made.

Steps to Obtain the Bond

Securing a Burbank City Building Mover $2,000 Bond involves these steps:

1. Verify Requirements: Confirm the bond amount and specific conditions with the city office.

2. Choose a Surety Provider: Work with a reputable bonding company experienced in contractor bonds.

3. Complete the Application: Provide details about your business, financial history, and bond requirements.

4. Pay the Premium: The premium is typically a small percentage of the $2,000 bond amount, based on factors like credit score and business experience.

5. Submit the Bond: Include the bond with your building mover application to finalize approval.

Cost of the Bond

The cost of the Burbank City Building Mover Bond depends on:

• Credit Score: Higher credit scores often result in lower premiums.

• Business Experience: Established movers with a strong track record may qualify for better rates.

For a $2,000 bond, the premium is typically minimal and may range between $20 and $100 annually, depending on the applicant’s qualifications.

What Happens if a Claim Is Filed?

If a claim is filed against your bond, the surety will investigate its validity. Claims may arise from:

• Failing to follow city ordinances during a move.

• Damaging public or private property during operations.

• Violating the terms of the permit or causing safety issues.

If the claim is deemed valid, the surety may pay the claimant up to the bond amount. However, you must reimburse the surety for any payments made and any additional costs incurred.