If you’re a contractor, builder, or utility company working in Fort Myers, you may be required to obtain a Right of Way Bond. This bond is an essential requirement for any work involving public property, such as sidewalks, streets, or utility spaces.

Whether you’re new to this process or just need a refresher, this article explains what a Fort Myers Right of Way Bond is, why it’s required, how much it costs, and how to secure one. By the end, you’ll have all the information you need to get bonded and move forward with your project.

What Is a Fort Myers Right of Way Bond?

A Right of Way Bond is a type of surety bond required by the City of Fort Myers for projects that impact public areas. These areas are known as “right of way” spaces and include:

• • Sidewalks
  • Streets and curbs
  • Easements
  • Public utility spaces

This bond ensures that you, as a contractor or business, complete the project properly and repair any damages caused to public infrastructure during your work. If you fail to meet these obligations, the city can use the bond to cover the costs of repairs or restoration.

In simpler terms, the bond protects the city and its residents from financial loss due to incomplete or substandard work.

Why Do I Need a Right of Way Bond in Fort Myers?

The City of Fort Myers requires this bond for a few key reasons:

1. 1. Protecting Public Infrastructure: Public roads, sidewalks, and utilities need to remain safe and functional. The bond guarantees that any damage caused during construction will be fixed.
   2. Ensuring Compliance: The bond holds you accountable for following city guidelines, ensuring projects meet local standards.
   3. Financial Security: If you fail to complete the work or cause damage, the city can recover costs from the bond instead of relying on taxpayer funds.

Any contractor or business performing work in a public right of way must secure this bond as part of the permit application process. Without it, you won’t be able to proceed with your project.

How Much Does a Fort Myers Right of Way Bond Cost?

The cost of a Right of Way Bond depends on two main factors:

1. 1. Bond Amount: The city determines the required bond amount based on the size and scope of your project. Larger projects may require higher bond amounts.
   2. Premium Rate: You’ll pay a small percentage of the total bond amount, typically between 1% and 5%, depending on your credit score and financial history.

For example:
If the city requires a $10,000 bond, you may pay anywhere from $100 to $500 as your premium.

• • Good Credit: Lower bond rates (around 1%-2%).
  • Less-Than-Perfect Credit: Higher rates, but affordable options are still available.

Working with a trusted surety bond provider ensures you get the best rates, regardless of your credit.

Who Requires a Fort Myers Right of Way Bond?

The City of Fort Myers requires the Right of Way Bond from:

• • Contractors
  • Builders
  • Utility companies
  • Developers

Any project impacting public infrastructure must comply with city requirements and include this bond.

If you’re unsure whether your project requires a bond, contact the Fort Myers permitting office for clarification.

How Do I Get a Fort Myers Right of Way Bond?

Securing a Right of Way Bond is a straightforward process when working with a reliable surety bond provider. Here are the steps:

1. 1. Determine Your Bond Amount: Confirm the required bond amount with the City of Fort Myers.
   2. Submit an Application: Provide basic information about your project, business, and financial standing.
   3. Receive a Quote: Your bond provider will review your application and give you a quote based on your credit and the bond amount.
   4. Pay the Premium: Once you accept the quote, pay the premium to issue the bond.
   5. Submit to the City: Provide the bond to the City of Fort Myers to finalize your permit and begin your project.

A trusted bond provider can expedite this process, often issuing your bond in as little as 24 hours.

How Long Does a Fort Myers Right of Way Bond Last?

The bond typically remains active for the duration of your project. Once the work is completed and inspected, the bond can be released.

If your project timeline extends beyond the initial duration, you may need to renew or update the bond to remain compliant.

Why Choose Innovative Bonding Service for Your Right of Way Bond?

When it comes to securing a Fort Myers Right of Way Bond, partnering with the right surety bond provider can save you time, money, and stress. Innovative Bonding Service stands out because:

• • Fast Approvals: We streamline the bond application process, getting you approved quickly so your project can stay on schedule.
  • Affordable Rates: Our strong network of surety companies allows us to offer competitive rates, even if your credit is less than perfect.
  • Expert Support: Our team of experts guides you through every step, ensuring a smooth experience.
  • Flexible Options: No matter your financial situation, we work to find a solution that fits your needs.

With Innovative Bonding Service, you’ll get your Right of Way Bond quickly and hassle-free.