Overview of the Surety Bonding Process in New Hampshire
A surety bond guarantees that a planning board approved project puts little to no burden on city/town services/infrastructure during construction and that a project is completed as it was proposed. Many municipalities have such bond requirements for purposes such as fire suppression, landscaping, road and utility construction. Moreover, a planning board may allow construction to start without a bond, but these bonds must be in place before land sale or building permit requests or occupancy.
Join NHMA’s Government Affairs Counsel, Natch Greyes and City of Rochester’s Director of Planning and Development Shauna Saunders, as they review the requirements and limits on the security needed for construction projects under subdivision regulations. They will also discuss the timeline for bond inspection and release, as well as partial bond release and compliance with statutory requirements.