$50,000 Performance Bond for Excavation Work in Public Right of Way
This bond is required for contractors who perform excavation or digging work in public streets, sidewalks, or other city-owned areas in Bloomington, Minnesota. The city requires this $50,000 bond to protect taxpayers and ensure the contractor properly completes the work and fixes any damage caused during excavation. I…
Overview
What it is.
This bond is required for contractors who perform excavation or digging work in public streets, sidewalks, or other city-owned areas in Bloomington, Minnesota. The city requires this $50,000 bond to protect taxpayers and ensure the contractor properly completes the work and fixes any damage caused during excavation. I…
Who usually needs it
Right-of-way users who elect to restore the right-of-way after excavation work in Minnesota may be required by local government units to obtain a construction performance bond at the time of permit application. The bond amount is reasonably estimated to cover the cost to restore the right-of-way to its pre-excavation condition.
Pricing & timing
What to expect.
Generic pricing
Permit bonds are required for specific activities, construction projects, or business operations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger permit bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Many common permit bonds qualify for instant approval with no underwriting required. Requirements vary by j…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateMNBond amount$50,000ObligeeCity of Bloomington, MinnesotaBond classPermit BondCategoryOtherBond$50,000 Performance Bond for Excavation Work in Public Right of WayPlain descriptionThis bond is required for contractors who perform excavation or digging work in public streets, sidewalks, or other city-owned areas in Bloomington, Minnesota. The city requires this $50,000 bond to protect taxpayers an…Who needs this bondRight-of-way users who elect to restore the right-of-way after excavation work in Minnesota may be required by local government units to obtain a construction performance bond at the time of permit application. The bond…
