What Is a License/Permit Bond?

A License/Permit Bond is a type of surety bond required by the Village of Glen Ellyn for contractors or businesses applying for a license or permit to operate or perform work within the village. This bond acts as a financial guarantee that the bondholder will:

• Comply with all applicable village ordinances, building codes, and safety standards.

• Complete all work responsibly, lawfully, and to agreed-upon standards.

• Cover any damages, penalties, or violations resulting from negligence or failure to comply with local regulations.

From my perspective, this bond protects the Village of Glen Ellyn and its residents by holding contractors and businesses accountable while safeguarding public resources and infrastructure.

Who Needs a License/Permit Bond in Glen Ellyn?

You may need a License/Permit Bond of up to $25,000 in Glen Ellyn if you:

• Are a contractor or tradesperson (e.g., general contractor, plumber, electrician) performing work requiring a village-issued permit.

• Are applying for a business license to operate within the village.

• Are undertaking projects that affect public property, such as sidewalks, streets, or utilities.

• Are working on large-scale projects where the village deems additional financial coverage is necessary.

From what I’ve observed, the bond amount required may vary depending on the scope and risk of the work being performed, with bonds typically ranging between $10,000 and $25,000.

How to Obtain a License/Permit Bond

Securing a License/Permit Bond in Glen Ellyn is a straightforward process if you follow these steps:

1. Verify Bond Requirements: Contact the Village of Glen Ellyn Clerk’s Office or Building Department to confirm the exact bond amount and any specific requirements tied to your license or permit.

2. Work with a Surety Provider: Apply for your bond through a reputable surety bond provider, like Axcess Surety, that specializes in License/Permit Bonds.

3. Submit Necessary Information: Provide information about your business, the type of work you’ll perform, and your financial background for evaluation by the surety provider.

4. Pay the Bond Premium: The bond premium is typically a small percentage (1-10%) of the bond amount and is determined by factors such as your credit score, financial history, and the bond amount required.

5. File the Bond with the Village: Once issued, file the bond with the Glen Ellyn licensing or permitting office to complete your application process.

From my experience, working with a knowledgeable surety provider ensures a smooth process and helps you meet the village’s requirements without delays.

How Much Does a License/Permit Bond Cost?

The cost of your License/Permit Bond depends on several factors, including:

• The bond amount required by Glen Ellyn (up to $25,000).

• Your personal credit score and financial standing.

• The type and scope of your business or project.

For example:

• If the bond amount required is $10,000, your premium could range from $100 to $500 annually, depending on your credit.

• If the bond amount required is $25,000, your premium might range from $250 to $1,250 annually, depending on your credit and financial qualifications.

Contractors and business owners with strong credit typically secure lower premiums, while those with less favorable credit may face slightly higher costs.

Why Does Glen Ellyn Require License/Permit Bonds?

From what I’ve observed, the Village of Glen Ellyn requires License/Permit Bonds to:

• Ensure compliance with local laws, ordinances, and building codes.

• Protect public property and residents from financial losses due to incomplete or negligent work.

• Provide a financial mechanism to resolve disputes or claims without burdening taxpayers.

In my view, these bonds are an effective tool for maintaining accountability and trust between contractors, businesses, and the village.