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Illinois bonds

South Beloit, IL — Excavation Permit Bond

South Beloit's excavation application links performance security to the project and repair of affected public property. It asks who is applying, who the work is for and who will perform it—details worth matching before a bond is issued.

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Recorded state
Illinois
Bond type
Excavation Contractor Bond
Category
Contractors & construction

What this bond does

The city's published application describes project performance security under §86-54 and separate yearly standing security. Its applicant statement addresses excavations or damage in streets, alleys, sidewalks, parkways and other public property, with repair and city-damage obligations.

Who needs it
The applicant identified in the excavation request. The application separately records the contractor/company and the party on whose behalf the work is done; use the required legal principal rather than treating those fields as interchangeable.
Who it protects
The application makes the applicant responsible for specified public-property repairs and city damages. It separately requires liability insurance with the city as additional insured. The performance-bond description instead calls the city an additional owner; do not copy the insurance designation onto the bond without checking its accepted wording.

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.

Project security and yearly standing security differ

The published application describes a project performance bond equal to 150% of project cost and a yearly standing letter of credit or performance bond with a $30,000 minimum or not less than 150% of project cost. Obtain the city's determination for the instrument being posted; the older application is not a quote of a fixed sum for every excavation.

It also calls for approved aggregate backfill and acceptable compaction near concrete or paved surfaces, and replacement of damaged pavement to the city's satisfaction. Those restoration duties are distinct from the proposed project start/end dates and do not establish a printed bond-release procedure.

Sources

Have these ready

  1. Have the legal applicant, party commissioning the work and performing contractor/company details.
  2. Gather the project location, area, purpose, map/diagram and proposed dates.
  3. Obtain the city's project-cost determination and whether project-specific or standing security is requested.
  4. Confirm the accepted bond form, city recipient wording, required sum/dates and execution/filing instructions; prepare insurance separately.

Questions about this bond

Does the yearly standing option mean every bond is annual?

No. The application distinguishes project performance security from a yearly standing instrument. Match the city's actual request and continuation instructions.

Is naming the city on insurance enough?

No. The application describes insurance and performance security separately, with different designations. Use each document's accepted wording.

How do I apply?

Purchase Now opens Propeller in a new tab. Match the South Beloit excavation request, principal, accepted form/recipient, required sum and dates. Application review, issuance, execution and city filing are separate from permit approval and restoration acceptance.

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