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PERMIT BOND - The Insco Dico Group

PERMIT BOND - The Insco Dico Group 2025

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The document is a Permit Bond for the City of Round Rock, Texas, outlining the obligations of a Principal (a corporation, partnership, or sole proprietorship) and a Surety (a solvent company) in relation to permits for work that may affect public rights-of-way or utility easements. It specifies a bond amount of $5,000 and details the conditions under which the bond remains valid, including performance obligations, indemnification of the Owner from claims, and adherence to permit conditions. The bond is executed in accordance with Texas Government Code Chapter 2253.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is an LP bond?

License and Permit Bonds Governmental authorities require a licensee or permitee to post a bond as a condition of the business licensing or permit process. LP bonds guarantee the bond principal will perform ing to the applicable statute, code or ordinance.

What is an example of a license in property law?

A bare license occurs when a person enters or uses the property of another with the express or implied permission of the owner or under circumstances that would provide a good defense against an action for trespass. For example, a person entering a gas station to ask for directions is a licensee and not a trespasser.

What is an example of a license and permit bond?

For example, if an auto dealer sells a car with a faulty odometer, then the customer could file a claim against the dealers bond to recover their losses. Any surety bond that serves as a prerequisite to obtaining a license or permit is considered an LP bond.

How much does a $5000 surety bond cost?

For applicants with good credit, surety bonds usually cost between 1% and 5% of their value. Therefore, for a surety bond of $5,000, an applicant with a strong credit history can expect to pay between $50 and $250.

Where to get a license and permit bond?

SuretyBonds.com is legally licensed to issue license and permit surety bonds in all 50 states. As the nations top surety provider, we offer the best service, fastest delivery and most affordable permit bond prices in the industry.

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How much does a $1,000,000 surety bond cost?

Surety bond premiums are calculated as a small percentage of the bond amount. $1,000,000 surety bonds typically cost 0.510% of the bond amount, or $5,000$100,000. Highly qualified applicants with strong credit might pay just $5,000 to $1,000 while an individual with poor credit will receive a higher rate.

What are the three types of surety bonds?

There are many types of surety bonds, and each state has its own bonding requirements for different industries. However, there are three major types of surety bonds that you should know: license and permit bonds, construction and performance bonds, and court bonds.

What is a real life example of a surety bond?

One of the most common uses of surety bonds is to protect the public, by guaranteeing important obligations will be fulfilled. For example, a construction surety bond will ensure that a building construction project that benefits the public will be completed.

PERMIT BOND - The Insco Dico Group 2025

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What is an LP bond?

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