Skip to content

Indiana bonds

Richmond, IN — Project Specific Excavation Permit Bond

Richmond's project-specific excavation security is based on 100% of estimated restoration labor/material cost, with a $5,000 minimum in posted §157.030. It is different from the City's $10,000 blanket option; identify the actual covered excavation project and DPW-approved form before ordering.

Continue to our secure checkout partner, Propeller (opens in a new tab).

Recorded state
Indiana
Bond type
Right-of-Way / Street Work Bond
Category
Contractors & construction

What this bond does

Project-specific City of Richmond, Indiana security for timely permitted excavation and restoration to DPW satisfaction.

Who needs it
The performing contractor/principal for the identified City ROW project and covered permit(s), not an assumption of blanket coverage for all future jobs.
Who it protects
The linked project form secures permit completion/restoration to City satisfaction, naming City of Richmond, Indiana. It caps ordinary liability at the stated sum but separately allows collection court/attorney costs above it; it is not unrestricted security for every private construction contract.

Your bond option

This is the option on record for this bond.

The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.

Estimate restoration, not the entire private construction contract

Posted §157.030 lets DPW approve blanket or project-specific security. The project sum is 100% of estimated labor/materials needed to restore the excavation uniformly to its surroundings, never less than $5,000; blanket security is separately stated at $10,000. Obtain DPW's actual assigned amount and covered permits rather than defaulting to the floor.

The City Permits and Inspections page links the exact Project Specific Bond Form and asks for separate liability documentation, excavation report and project plans where applicable. The form identifies bond/permit number, principal, surety, City obligee, sum and dates. A planned single-project permit needs clearly identified plans/specifications with the initial application and the Code's 20-full-working-day lead time.

Keep permit validity separate from post-work security

The Code generally gives 30-calendar-day permits but has winter and planned-project exceptions and extension conditions. The linked bond continues until three years after permit conditions and requirements are satisfied; the Code also requires a three-year repair guarantee after work completion. Record the actual City completion/condition-satisfaction dates rather than counting from purchase or treating permit expiry as release.

Purchase Now opens Propeller; the option displays no fixed amount or term. Match the actual project request, accepted form/parties, sum and dates, arrange execution and approved DPW filing, then obtain the separate excavation permission.

Follow the actual daily work-location notice, excavation-report and restoration requirements. The Code calls for a final inspection request within five working days of permanent repair; obtain City acceptance and actual continuation/release direction rather than assuming the hole being filled ends the obligation.

Sources

Have these ready

  1. Actual Richmond project/permit scope, performing contractor and restoration labor/material estimate.
  2. DPW-assigned project-specific sum of at least $5,000; do not substitute the separate blanket amount.
  3. Exact City-linked form, legal parties/numbers/dates, separate insurance, reports/plans and actual planned-project lead time.
  4. Execution/approved filing, separate permit approval, notices, final inspection and condition-satisfaction/release records.

Questions about this bond

Is $5,000 always the project-specific amount?

No. The posted Code bases it on 100% of estimated restoration labor/material cost with a $5,000 floor. DPW determines the actual request.

Does this project offering automatically cover all future excavations?

No blanket scope is established. Richmond separately provides a blanket form/amount; identify the actual project and covered permits.

Does the usual 30-day permit end the bond?

No. Permit exceptions/extension and post-work security are separate. The linked form continues three years after permit requirements are satisfied; no fixed provider term is displayed.

Related bonds

Keep exploring

How can we help you get started?

Choose the quote that fits, and we’ll take it from there.

Have a question? Contact us