Waterville, Ohio Contractor Bonds

Waterville, Ohio holds a surety bond requirement for contractors working within the City as assurance that construction projects will be fully completed. Those working on street improvements must have a $10,000 Street, Alley or Public Way Opening Permit Bond, and contractors working on subdivisions must have a Subdivision Maintenance Bond. 

VIEW YOUR BOND PRICE

The cost of a Street Opening Bond is only $100 with Jet, guaranteed. For the Subdivision Maintenance Bond, the bond limit is determined by the cost of the work and can affect the price of the bond. Subdivision Maintenance Bond prices can also be subject to credit approval. Review the chart below for different bond limits at the preferred credit tier rate.

Bond TermCost
$10,000$100
$25,000$125
$50,000$250
Waterville, Ohio Contractor Bond Rates

Once you have your quote and complete your purchase, Jet will prepare the bond form and mail it to the City of Waterville. If you need to file the bond yourself, you may request that the bond be mailed to you. The bond must be submitted to: 

City of Waterville
Department of Public Works
25 N Second St
Waterville, OH 43566

Street Improvement Bond

This bond serves the purpose of guaranteeing that contractors breaking into streets, sidewalks, alleys, or public right-of-ways will oblige Chapter 909 of the Waterville Codified Ordinances and the conditions of their permit, not only in the excavation but in the restoration of the project site. The amount needed for the bond will be assigned by the Council.

The bond must be held during the course of construction and may need to stay active for a designated period after the work is complete to ensure there are no defects. The bond does not need to be renewed and cannot be cancelled. 

Subdivision Maintenance Bond

This bond is used to ensure that the contractors working on a final plat/subdivision will fulfill the improvements and take care of any upkeep for two years from the filing of the bond. The contractor is also required to make any repairs or replacements if there are any defects in their work. 

If you, as a subdivision contractor, fail to maintain the site to the specifications of the Waterville Codified Ordinances, Chapter 1117, the City will give notice of such failure. You will be given an allotted time to make repairs or changes as needed; if you refuse to or cannot fix the issue, Jet will be obligated to pay out from the Subdivision Bond for the cost of labor, materials, or inspection. Of course, you are still liable for your actions and will need to pay Jet back. 

This bond must be held for the two-year period needed to guarantee that your work is up to par. Renewals are not needed and cancellations are not allowed. 

Other bond requirements mentioned in the Waterville Codified Ordinances can be found below. If you are looking to get one of these bonds, please give our office a call for a quote. 

Waterville Ohio Contractor Bond Form

Notary Bond Application:

X

Business Information:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Employee Dishonesty Bond Application:

Business Information:

Business Description:

Coverage Requirements:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Contract Bond Application:

X

Business Information:

Owner Information:

Job Details:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Worker's Compensation Application:

X

Business Information:

Business Description:

Coverage Requirements

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information: