Real estate development projects often have mandated bonding requirements when a municipality is the project owner or may require certain improvements be made when it comes to site work on private projects. These are guaranteed through
Site Improvement Bonds
Similarly, Utility Payment Bonds ensure payment is made to the utility company for multi unit holdings.
Of great interest and economic benefit to projects owners are Escrow Release Bonds described below.
A surety bond written to guarantee the obligation of a developer to refund security deposits to buyers if a project is cancelled.
Escrow release bonds can be used as a financing tool for developers enabling the liquidation of security deposits, to be used in lieu of higher cost construction financing.
See how adding bonds can reduce financing costs using our
INTEREST EXPENSE SAVINGS CALCULATOR