Frequently Asked Questions (FAQ)
Bond Amount is $25,000.00. Standard Rate is 5.000% per year; with a minimum premium of $100.00.
The Street Excavation Bond in the city and county of San Francisco (California-City and County of San Francisco Street Excavation Bond) is a financial guarantee required for most contractors to perform street excavation work in California. This bond protects consumers and government agencies from breaches of obligations related to contractors’ activities in San Francisco.
Street Excavation involves earthmoving and construction work on streets and roads, such as digging trenches for underground utilities like water, gas, and electric lines. These companies play a crucial role in construction and infrastructure projects, working closely with city authorities and utility services to install or repair underground networks. Their tasks may include laying new pipes, replacing old infrastructure, installing drainage systems, and preparing areas for future construction.
Performing street excavation requires adherence to strict safety regulations, obtaining permits from city authorities, and minimizing inconvenience to residents and traffic. These companies are also responsible for restoring street surfaces after completing the excavation.
Boris is the owner of a company specializing in street excavation for underground utilities in urban areas. One day, his company was awarded a major contract to dig up a main street for the installation of new gas lines. The work involved trenching, pipe installation, and restoring the street surface.
Boris and his team planned the project to minimize disruptions for residents and traffic. They worked in phases, closing one lane at a time, then moving to the next section. This approach helped prevent major traffic jams and ensured safety on-site. After installing the pipes, Boris’s team restored the road surface, bringing the street back to normal.
Thanks to timely completion and high-quality work, Boris received letters of appreciation from city authorities and residents. His company continued to win contracts for similar projects and now contributes to major infrastructure upgrades across the city.
Thus, Street Excavation is an essential business for urban infrastructure, conducting earthworks and installing underground utilities, as demonstrated by Boris’s success in handling large projects and delivering quality results.
Boris, the owner of a construction company, took on a street excavation project in San Francisco. However, he violated several rules and failed to complete the work on time. As a result, his clients filed a claim against his bond, and Boris lost the financial protection provided by the street excavation bond.
The cost of a street excavation bond in California (California-City and County of San Francisco Street Excavation Bond) is approximately $25,000. The standard rate is 5.000% per year, with a minimum premium of $100. Discounts are available for multi-year contracts.
The bond amount typically stands at around $25,000, with a standard annual rate of 5.000%.
Agents can obtain the bond through the following portal: Apply for the Bond.
The bond requires contractors to comply with all San Francisco laws and regulations related to street excavation, protecting consumers from contract breaches.
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Execution Notes
Bond must have an original signed and notarized Attorney in Fact signature.
Filing Method
Executed bond must be filed with the obligee by agent/principal.
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Bond Amount is $25,000.00. Standard Rate is 5.000% per year; with a minimum premium of $100.00.