Contractors and developers undertaking construction projects in the City of Bloomington, MN, that involve land disturbance activities (such as residential, commercial, or industrial developments) must obtain this bond to ensure they implement and maintain effective erosion and sediment control measures as outlined in project plans and comply with local eros…
Pricing & timing
What to expect.
Generic pricing
Performance bonds guarantee that a contractor will complete a project according to the contract terms. Typical Pricing:. • Small contracts: Commonly around 1–5% of the contract value (one-time upfront premium). • Larger contracts: Rates generally scale lower as contract size increases. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. • Full underwriting required: Credit, financials, experience, and bon…
Typical timeframe
Full underwriting required — typically 3–5 business days
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 amountVaries by license type or projectObligeeCity of Bloomington, MinnesotaBond classPerformance BondCategoryOtherBondErosion Control Performance BondPlain descriptionSoil Erosion or Sediment ControlWho needs this bondContractors and developers undertaking construction projects in the City of Bloomington, MN, that involve land disturbance activities (such as residential, commercial, or industrial developments) must obtain this bond t…
