What is a Subdivision Bond?
A subdivision bond is a type of contract surety bond required by states and local governments for contractors engaged in the construction and improvement of public projects including streets, sidewalks, utilities and other public structures. Claims may be filed to replace, repair or finish projects where the contractor neglected to deliver or meet required specifications.
How much does a Subdivision Bond Cost?
Subdivision Bond prices vary based on the bond amount and the applicant. Most contact bonds are priced at 2-3% of the bond amount. Request a free, no-obligation quote and one of our bond specialists will look at your specific circumstances.
The party requiring the bond should have specified the bond amount. If not, the bond amount is likely the same as the total contract amount. If you are requesting a bid bond, the bond amount is often only 5-10% of the contract value.
If you'd prefer to speak with one of our bond specialists, please call us at 1-800-608-9950. We can help guide you through the bonding process and identify the lowest cost in the market for your situation.
Other Types of Contract Bonds
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