WHAT IS IT?
Subdivision bonds (also referred to as Site Improvement bonds) are generally required of builders or developers to guarantee completion of infrastructure work such as: electrical lines, sewers, sidewalks, grading or other work associated with a permit issued by a Local, Country or State authority.
Unlike other markets, we do not try and categorize Subdivision as either Contract or Commercial. We treat it as a separate line of business which brings with it its own approach to underwriting. We evaluate all aspects of a project, including capital structure and financing, experience and finally indemnity structure.
We will consider site improvement bonds for National Home Builders (both public and privately held), Regional builders and developers and institutionally funded (Pension funds) large multi phased projects.