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Get the free PERFORMANCE BOND (GRADING PERMITS) - twpusc

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This document serves as a performance bond for grading permits issued by the Township of Upper St. Clair, ensuring compliance with grading plans and the Grading Code.
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How to fill out performance bond grading permits

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How to fill out PERFORMANCE BOND (GRADING PERMITS)

01
Obtain the PERFORMANCE BOND form from your local government office or website.
02
Enter the name and address of the principal (the party required to obtain the bond).
03
Provide the legal description of the property where grading permits are to be applied.
04
Specify the amount of the bond, which is usually based on a percentage of the estimated cost of grading work.
05
Fill in the name of the surety company that will issue the bond.
06
Gather any required documentation, including project plans and permits.
07
Review the bond terms and conditions to ensure compliance with local regulations.
08
Submit the completed performance bond to the appropriate local governmental authority along with any required fees.

Who needs PERFORMANCE BOND (GRADING PERMITS)?

01
Contractors and developers applying for grading permits.
02
Property owners undertaking significant land alteration or excavation.
03
Businesses engaged in construction projects that require grading work.
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There are two main categories: 'on demand' bonds and 'conditional' bonds.
A performance bond remains in effect for the duration of the project, providing the Obligee with peace of mind as change orders are agreed to during the term of the underlying bonded contract. Alternatively, an LC is in place for a set term with the potential for (but not guaranteed) automatic renewal.
A Performance Bond provides protection to the Owner of the project, up to the amount of the bond, should the contractor be unable to complete the project and be in default of the construction contract. The amount of the Performance Bond is typically 50% of the contract price or 100% of the contract price.
An undertaking to pay a party (the beneficiary of the performance bond) a fixed amount if and when another party (the applicant of the performance bond) fails to perform (or delays in its performance of) its obligations under an underlying contract.
Are there different types of performance bonds? There are two main categories: 'on demand' bonds and 'conditional' bonds.
For Performance and Payment Bonds, the typical cost ranges from 0.5% to 4% of the total contract price. The rate is often quoted as a dollar figure per $1,000 of contract value. Example: On a $250,000 project at 2.5%, the premium would be $6,250 (or $25 per $1,000).
The performance bond is typically for 10% of the contract value, and provides the Employer with a cash sum in the event of the failure of the Contractor to complete their work in order to cover the costs of appointing a new contractor.
A performance bond is a bond that guarantees that the bonded contractor will perform its obligations under the contract in accordance with the contract's terms and conditions. Performance bonds are typically in the amount of 50% of the contract amount, but can also be issued for 100% of the contract amount.

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A PERFORMANCE BOND (GRADING PERMITS) is a type of surety bond that guarantees the completion of grading work according to approved plans and specifications, ensuring adherence to local regulations and standards.
Typically, contractors or developers who are planning to undertake grading activities that require a permit are required to file a PERFORMANCE BOND.
To fill out a PERFORMANCE BOND (GRADING PERMITS), the applicant must provide details such as the project name, address, bond amount, surety company information, and signatures from all relevant parties, including the contractor and the surety.
The purpose of the PERFORMANCE BOND (GRADING PERMITS) is to ensure that the project owner or governing body has financial assurance that the grading work will be completed satisfactorily and in compliance with regulations.
Information required on a PERFORMANCE BOND (GRADING PERMITS) includes the bonding amount, details of the contractor, the surety's information, the description of the work to be completed, and any relevant permit or project numbers.
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