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What is a bond?

In some communities, the local village requires what is effectively an insurance policy against damage to public property, called a bond. The bond can be thousands of dollars and, provided that there is no damage to the streets, sidewalks, or the like, should be refunded at the end of the remodel. As the contractor, we feel it is our responsibility to cover the bond, as well as assure that no damage is done to public property while you’re remodeling. Not all remodeling companies cover the bond though, so if you’re considering a major remodel, it’s worth asking about bonds and permit fees, as you may need to incorporate those costs into your budget.

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