Contractors cutting into public roadways in the Village of Indian Hill must file a Right-of-Way Performance Bond. The bond, as you guessed it, guarantees that the contractor will perform to the satisfaction of the Village.
The Indian Hill Right-of-Way Bond must be held in an amount that will cover any damages in the event of the contractor’s failure to complete construction according to specifications. As such, the cost of the bond will depend on the assigned limit.
Rates are dependent on a soft credit check, so submitting your social security number will be part of the application, as well as general business information. You will find your approved quote once the application is completed, ready to purchase. See the chart below for Jet’s preferred tier rates at different bond limits.
Bond Limit
Cost
$10,000
$100
$25,000
$125
$50,000
$250
Indian Hill, Ohio Contractor Bond Rates
After you have completed your payment, Jet will mail the completed bond form to you. You will need to sign it and submit it along with your Right of Way Permit to:
The surety bond is only required when a contractor is doing road cuts in the right-of-way. This guarantees that the contractor will finish the excavation all the way through, even to the point of restoring the site to a condition that is usable. Any failure to fulfill construction can cause the Village to seek restitution for the materials and labor needed to get the site into compliance.
Typically, these bonds are active while your construction is ongoing and can be held for a period of time after to ensure the quality of your work. The site must be inspected before the release of the bond.