All Builders (Contractors) must supply: A valid Builders Bond** for $10,000.00 (or as notified), indicating coverage for any damage caused to the common areas of this subdivision.
Note that for construction projects on improved properties, auto or general liability coverage cannot be substituted for a bond.
The Arbors bond requirement is for a Surety bond . It protects the Arbors Community from damages by a contractor (or sub-contractor) that is not repaired by the contractor. In such cases, the Arbors will file against the bond to collect the repair costs.
A real example was repair to the cul-de-sac on Maple Leaf
when a contractor's truck hydraulic fluid leaked and damaged
the asphalt.
(Reminder: A claim against a bond impacts the credit worthiness of the
purchaser.)
Please contact The Arbors Architectural Committee with any further questions:
acc.comm@arborsia.org