When you are working on construction of improvements in Lakeway, Texas, a $10,000 Improvements Permit Bond needs to be submitted with the City. The purpose of the bond is to guarantee that your clients will not have to relate to Joe Exotic and his money woes. An injured party will be able to financially recover for damages if you fail to complete the contract or your warranty.
For just $100, you can purchase your Improvements Bond with Jet. Just click the button above to add your business information needed to complete the bond form and submit payment.
Bond Term | Cost |
---|---|
Monthly | $10 |
1 Year | $100 |
2 Years | $175 |
3 Years | $250 |
Once you’re all done, Jet can send the bond in for you, or if you have other paperwork to submit, you can send it along with your Improvements Bond to this address:
City of Lakeway
Building & Development Services
1102 Lohmans Crossing
Lakeway, TX 78734
The City will hold the bond for the duration of the permit. As a contractor, you must complete the job according to the permit plans, conditions or specifications and any applicable rules in the Lakeway Code of Ordinances. Not only are you responsible for your work while the permit is in place, but you must maintain your work up to two (2) years from the notice of noncompliance or six (6) months after final completion of the project with an issued Certificate of Occupancy.
Any defects or incomplete work must be fixed during this time, or you are at risk of receiving a bond claim. A claim payout does not relieve you from liability; you must recover the amount of the claim by paying Jet back.
In certain cases, the City can either raise the bond limit or waive the bond requirement altogether. The City may add $1,000 per 1,000 square foot to the bond limit for a structure or parking facility that is more than 10,000 square feet. Governmental agencies or a permit that has an estimated cost that is less than $10,000 for improvements on an existing building are not required to file a surety bond.