Village of Maywood, IL - Excavation / Wrecker Contractor
Flat Rate & No Credit Check
| Bond Amount Required | Bond Term | Annual Premium |
| $20,000 | 1 Year | $100 |
Required under Maywood Ordinance 110.13, this $20,000 surety bond must be filed before a license is issued for demolition, wrecking, or excavation projects. It protects the Village and its residents from damages or expenses resulting from a contractor’s failure to adhere to applicable safety and restoration codes.
Cost of a Village of Maywood, IL Excavation / Wrecker Contractor Bond
The cost of the $20,000 Village of Maywood, Illinois Contractor License Bond is $100 for a one-year bond term. Get your bond from NNA Surety and use it today.
Why You Need a Village of Maywood, IL Excavation / Wrecker Contractor Bond
The Village of Maywood Excavation / Wrecker Contractor Bond helps hold contractors accountable for obligations associated with demolition, wrecking, excavation, local licensing requirements, and applicable safety and restoration codes. It provides a financial safeguard when a bonded contractor fails to meet obligations secured by the bond.
The surety bond involves three parties:
- Principal: Excavation, demolition, or wrecking contractor
- Obligee: Village of Maywood, IL
- Surety: Bonding company
If a bonded contractor fails to meet obligations covered by the bond, an eligible claim may be made against the bond. The contractor is responsible for reimbursing the surety for any valid claim amount paid.
How to Get a Village of Maywood, IL Excavation / Wrecker Contractor Bond
Follow this simple bonding process:
- Complete this bond application with your business and contractor information.
- Pay the $100 annual premium for the $20,000 bond.
- Receive the required bond form and complete any required execution information.
- File the bond with the Village of Maywood before the applicable contractor license is issued.
Working with NNA Surety makes it simple to obtain the contractor bond required for your business.
Apply for Your Village of Maywood, IL Excavation / Wrecker Contractor Bond Today
Secure your Village of Maywood, IL Excavation / Wrecker Contractor Bond and meet the applicable bonding requirements for your business. Apply Now to get started. For more information, call 855-457-2196 to speak to our team of Illinois surety bond experts.