Why is This Bond Important?

From what I’ve seen, this bond protects both the city and the public. It ensures that public infrastructure remains safe and accessible during and after your project. If your work causes damage or fails to meet city standards, the bond provides a financial safety net for repairs, saving taxpayers from footing the bill.

When is the Bond Required?

In my observation, the City of Burbank mandates this bond for activities that interfere with public spaces, including:

• Blocking roads or sidewalks for construction or repairs.

• Using public property to store materials or heavy equipment.

• Modifying city infrastructure, such as curbs, gutters, or utilities.

If your project disrupts traffic or pedestrian access, this bond is almost always a requirement.

How Does the Bond Work?

The bond is a three-party agreement between the principal (you or your company), the obligee (City of Burbank), and the surety company. It guarantees that you will comply with city ordinances and restore public property. If you fail to fulfill your obligations, the city can file a claim against the bond to cover the costs of repairs or damages.

Steps to Obtain the Bond

Obtaining a City Right of Way/Street Obstruction Bond is a straightforward process:

1. Confirm Requirements: Contact the City of Burbank to determine the bond amount and specific conditions.

2. Choose a Surety Provider: Partner with a reliable provider like Axcess Surety to secure your bond.

3. Submit an Application: Provide your project details and any necessary documentation.

4. Pay the Premium: The bond premium is based on the bond amount and your financial standing.

5. Deliver the Bond: Submit the bond to the city to finalize your permit approval.

Cost of the Bond

The cost of your bond depends on several factors, including the required bond amount and your financial credentials. In my experience, applicants with strong credit typically pay a lower premium, ranging from 1-5% of the total bond value. Axcess Surety works with you to ensure you receive a competitive rate tailored to your project needs.

Compliance is Key

I’ve found that compliance with city regulations is the best way to avoid delays and additional costs. Securing the required bond not only helps you meet legal obligations but also fosters goodwill with the city, ensuring a smoother project timeline. Failing to provide the bond can result in permit denials or project shutdowns.

Benefits of Working with Axcess Surety

At Axcess Surety, we’ve consistently observed that contractors and businesses benefit from our expert support. Our team specializes in surety bonds like the City Right of Way/Street Obstruction Bond, offering:

• Fast approvals, even for time-sensitive projects.

• Affordable rates to fit your budget.

• Expert guidance throughout the application process.