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City of Greenville Development Surety and Guarantee Bond

Development Surety and Guarantee Bond
Contractor Surety Bonds
Price: Depends on application
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City of Greenville Development Surety and Guarantee Bond
The process of applying for a City of Greenville Development Surety and Guarantee Bond Surety Bond is a quick and straightforward process, typically taking only about five minutes from start to finish.

  • The City of Greenville Development Surety and Guaranty Bond Program is designed to provide financial security to developers building projects within the city limits of Greenville.

To purchase your City of Greenville Development Surety and Guarantee Bond simply click on the "Buy Now" button. You will then be guided through a brief set of questions. After which you'll pay online and sign using DocuSign. Your new surety bond will be signed and sealed as a full-color PDF document for printing.

Securing a City of Greenville Development Surety and Guarantee Bond surety bond is a commitment by principals to adhere to the stipulations of contractual and legal obligations.

Note: If the bond requires underwriting, it may take up to 24 hours.
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Development Surety and Guar...

The State of South Carolina
Development Surety and Guarantee Bond

Surety Bond Details

State: South Carolina
Category: Development Surety an...
Class: Contractor Surety Bonds
Obligee: City of Greenville
Amount: Varies
Duration: Stated on Bond
Expiration: As Entered On App...

Cost: Depends on applic...

The State of South Carolina
Development Surety and Guarantee Bond
State:
South Carolina
Category:
Contractor Surety Bonds
Obligee:
City of Greenville
Amount:
Varies
Duration:
Stated on Bond
Expiration:
As Entered On Application
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SORPid: B-492

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City of Greenville Development Surety and Guarantee Bond Details

This program guarantees that the developer will pay for any damages caused by construction on the project. It also covers the cost of litigation against the developer in case of claims made by third parties.

Who is eligible for this bond program?
Any individual or entity who meets the following criteria is eligible for the bond program:
• Must be an owner or contractor of the project;
• Must own real property located within the city limits of the City of Greenville;
• Must intend to construct improvements on the property; and
• Must submit plans for approval by the city council.

What are the benefits of this bond program?
The bond program protects against loss due to construction delays, material shortages, labor strikes, and other unforeseen circumstances. It also protects the developer from claims made by subcontractors, suppliers, and laborers.

When does the bond program begin?
The bond program begins when an application is submitted to the city. Applications must be submitted at least 60 days before the project's start date.

How much will it cost me?
The bond program requires a minimum $50,000 deposit with the city. The town holds this money until the completion of the project. At that point, the developer receives a refund of the deposit plus interest. The developer forfeits the entire stake if the project fails to meet its deadlines.

Is there any additional information I should know about this bond program?
There are two types of bonds available through the program: a performance bond and a development surety bond. A performance bond guarantees that the developer will complete the project according to the contract terms. A development surety bond guarantees that the developer has sufficient funds to cover costs associated with construction.

Contact the obligee (City of Greenville) directly for further details about this bond.

  •  Zoning: (864) 467-4476
  • Engineering: (864) 467-4400
  • Building Codes: (864) 467-4550

PLANNING AND DEVELOPMENT DIVISION CITY OF GREENVILLE

P.O. BOX 2207

GREENVILLE, SC 29602

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