Secure Your Fort Worth Parkway Contractor's Bond with TMD
Providing reliable Fort Worth Parkway Contractor’s Bonds
Bonds for $100
Why Is a Parkway Contractor's Bond required in Fort Worth?
Fort Worth Parkway Contractor’s Bonds are needed to ensure that contractors who work on the city’s parkways comply with the city’s regulations and standards. The purpose of these bonds is to protect the city from any damages or liabilities that may arise from the contractor’s work, such as poor quality, incomplete work, or violations of the city’s codes. These bonds also serve as a guarantee that the contractor will pay any fees, taxes, or fines that may be imposed by the city for their work.
According to Texas law, contractors who work on public projects must obtain a surety bond from a licensed bonding company before they can receive a permit or license from the local government
Who Needs a Fort Worth Parkway Contractor's Bond?
One might be required to obtain a Fort Worth Parkway Contractor’s Bond if they want to perform any work on the city’s parkways, which are the areas between the curb and the property line of a street. This includes residential, commercial, and utility parkway contractors who do any of the following activities:
- Install, repair, or replace sidewalks, driveways, curbs, gutters, or landscaping
- Install, repair, or replace irrigation systems, water lines, sewer lines, gas lines, or electrical lines
- Install, repair, or replace street lights, traffic signals, signs, or poles
- Install, repair, or replace fences, walls, gates, or monuments
What Does a Fort Worth Parkway Contractor's Bond Cover?
A Fort Worth Parkway Contractor’s Bond covers the following:
- The cost of repairing or restoring any damage or injury caused by the contractor’s work on the parkway
- The payment of any fees, taxes, or fines that the contractor owes to the city for their work on the parkway
- The completion of the work on the parkway according to the city’s specifications and standards
- The compliance of the contractor with the city’s codes, ordinances, and regulations regarding the parkway
If the contractor fails to meet any of these obligations, the city can file a claim against the bond and the bonding company will pay the city up to the bond amount. The bonding company will then seek reimbursement from the contractor. The bond is a form of security for the city and a guarantee for the contractor’s performance.
HOW TO GET A FORT WORTH PARKWAY CONTRACTOR'S BOND
Effortlessly secure your Fort Worth Parkway Contractor’s bond in three simple steps! Experience the reliability and convenience of our streamlined surety bond process tailored to your needs.
How Much Does a Fort Worth Parkway Contractor's Bond Cost?
A $10,000 Fort Worth Parkway Contractor’s bond cost $100 with TMD for a full year. Our automated website makes the process secure, simple, fast, and the price is always transparent.
Fort Worth Parkway Contractor's Bond FAQ
A Fort Worth Parkway Contractor’s Bond claim might arise in the following scenarios:
- The contractor fails to complete the work on the parkway according to the city’s specifications and standards, leaving the parkway in a poor or unsafe condition.
- The contractor causes damage or injury to the parkway, the adjacent property, or the public during the course of their work, and does not repair or compensate for the damage or injury.
- The contractor violates the city’s codes, ordinances, or regulations regarding the parkway, such as obtaining the necessary permits, licenses, inspections, or approvals, and does not correct the violations or pay the fines.
- The contractor does not pay the fees, taxes, or assessments that the city imposes for their work on the parkway, and does not settle the debt.
A Fort Worth Parkway Contractor’s Bond claim is resolved by the following process:
- The city notifies the contractor and the bonding company of the claim, providing the details and evidence of the contractor’s breach of the bond obligations.
- The bonding company investigates the claim and verifies its validity and amount.
- The bonding company pays the city up to the bond amount to cover the cost of repairing or restoring the parkway, compensating for the damage or injury, or settling the fees, taxes, or fines.
- The bonding company seeks reimbursement from the contractor for the amount paid to the city, plus any interest and fees.
- The contractor is responsible for repaying the bonding company, or else face legal action or loss of credit.
The application process for a Fort Worth Parkway Contractor’s bond is simple with TMD Surety Bonds through our automated website. Enter your information, pay for your bond, and then receive your bond via email instantly. You can always give us a call if you have any questions.
The Fort Worth Parkway Contractor bond carries a one year term. 30 days before your bond expires, TMD will contact you via email and or phone to renew your bond in a timely manner.
It shows that you are a licensed and registered contractor with the city of Fort Worth, which is a requirement for working in the city parkway. It also guarantees that you will complete your paved beautification projects according to the city standards and regulations, and that you will pay any damages or fines if you fail to do so.
- A fine of up to $2,000 per day for each violation.
- A stop work order issued by the city inspector or code enforcement officer.
- A revocation or suspension of the contractor’s license or registration.
- A civil lawsuit filed by the city for damages, costs, and attorney fees.
- A criminal prosecution for a Class C misdemeanor.
Need a Fort Worth Parkway Contractor's Bond? Have Questions?
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