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New York City Two to Fifty Locations Liability Bond (NY)
Commissioner of Transportation of the City of New York
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Can I obtain a NYC DOT two to fifty locations permit bond if I have bad credit?
It is possible to obtain a NYC DOT two to fifty locations permit bond with bad credit but you will need to submit financial statements and other additional underwriting information may be required for the surety company to consider.
How much does a City of New York Department of Transportation bond cost?
The cost of a $50,000 New York Department of Transportation permit bond is $250.00 subject to good credit.
What should I be aware of for NYC DOT two to fifty locations permit bonds?
Exposure is long term: “shall replace or repair all deficient or defective work it performed and shall guarantee the maintenance thereof for a period of up to sixty months subsequent to the completion of work on protected streets, or thirty-six months subsequent to the completion of work in the case of unprotected streets; and will indemnify and save harmless the City of New York of and from all damage and costs to which it may be put by reason of injury to persons or property of another, resulting from the use of the streets as authorized by said permits, or resulting from failure to comply with the conditions upon which said permits”
Insurance and Financial Security Requirements for Highway Work Permits
Before a Highway Work Permit is issued, the applicant must provide NYSDOT with proof of adequate insurance and performance security. These financial security requirements are fully explained in NYCRR Title 17 Part 127 .
Insurance Requirements
- New York State Department of Transportation must be listed as an Additional Insured on the applicant’s Commercial General Liability policy.
- In most cases, Permittee must provide proof of Commercial General Liabilityinsurance coverage with New York State Department of Transportation listed as an Additional insured. Minimum liability limits must be at least $1,000,000 per claim/occurrence, unless any of the following circumstances exist, in which case the liability limits shall not be less than $5,000,000 per claim/occurrence:
- The estimated value of permitted work in state right-of-way is $250,000 or more;
- The permitted work requires or includes the construction, alteration or maintenance of underground features at any depth five feet or more below grade;
- The permitted work requires or includes the construction, alteration or maintenance of overhead features that include, but are not limited to, traffic signals, overhead sign structures, retaining walls or other grade separation structures.
- Exceptions to the above liability limits include: (a) annual maintenance permitsrequire liability limits of not less than $5,000,000 per claim/occurrence; (b) Permits for vegetation control activities require liability limits of not less than $1,000,000 per claim/occurrence; (c) residential driveway permits require liability limits of not less than $500,000 per claim/occurrence for contractors; and (d) Adopt-a-Highway permits are exempt.
- The ACORD 25(Certificate of Insurance), with the ACORD 855 (New York Construction Certificate of Liability Insurance Addendum) shall be submitted as acceptable proof of liability coverage. New York State Department of Transportation should be named as Additional Insured and as the Certificate Holder at the mailing address of the Regional Office who will be issuing the permit.
- Municipalities, public utilities, public authorities and railroads may elect to provide an executed Undertaking Agreementas a substitute for providing the insurance coverage and performance security otherwise required, however proof of Workers’ Compensation and Disability Benefits coverage is still required.
- Homeowners may pay a $25 Insurance Feein lieu of providing proof of insurance. Any contractor performing on behalf of a homeowner and who is named on the permit must provide proof of insurance as outlined above.
- When the estimated cost of work being performed in the right-of-way equals or exceeds $250,000, Permittee must additionally provide proof of a Protective Liability (OCP)insurance policy with a minimum liability limit of $1,000,000 per occurrence, with New York State Department of Transportation as Named Insured.
Undertaking Agreements
Municipalities, federal agencies, public utilities, transportation corporations, public authorities, public benefit corporations, or railroads, may elect to furnish an Undertaking agreement that is acceptable to the Department as a substitute for or to supplement any insurance coverage or performance security otherwise required. Such Undertaking shall require full indemnification of the State without specifying limits of liability and may be utilized to satisfy the security requirements for all permits issued to the permittee. Undertaking agreements should be signed by an officer or other senior official in the organization, and must be accompanied by a resolution of the organization’s board or legislative body.
Workers’ Compensation and Disability Benefits Coverage
New York State Workers’ Compensation Law requires that all applicants submit proof of Worker’s Compensation Insurance and Disability Benefits coverage, or proof of exemption, on one of the following forms:
- Workers’ Compensation: Form C-105.2, U-26.3, or SI-12, or Proof of Exemption Form CE-200
- Disability Benefits: Form DB-120.1, or DB-155, or Proof of Exemption Form CE-200
For more information and to obtain these forms, contact your insurance provider.
If you believe you are exempt, you may obtain a FORM CE-200 at: NYS Workers’ Compensation Board – Certificate of Exemption
Performance Security
In order to ensure the completion of work allowed under a highway work permit or annual highway work permit, and to ensure that the State highway is restored to the condition it was in before permitted work was undertaken, performance and payment security may be required. Forms of performance security acceptable to the Department include: (1) a cash deposit in U.S funds paid to the permitting office; (2) a performance/payment bond in a form prescribed by the Department; or (3) a letter of credit issued by any bank authorized to do business in New York State.
When submitting a bond, this form must be completed and attached for 2 to 50 locatons:
https://www.nyc.gov/html/dot/downloads/pdf/permitbond_2to50.pdf
https://mybondapp.com/254903448/DirectNavBond?bondType=R3148MBA2&state=NY
The level of performance and payment security will depend on the type of work operation and the estimated value of work being permitted. The following will provide general guidance, however an exact amount will be determined by the regional issuing office.
Residential driveways: Performance and payment security may be required for any driveway that requires the installation of drainage structures or includes cuts to the curb or pavement of the State highway. In such cases, the amount of security required shall be $1,000 that shall be refundable upon satisfactory project completion. No performance security shall be required for residential driveways where the work for which the permit is required does not affect the pavement, curb or drainage structures or other appurtenances of the highway
Commercial Driveways, subdivision streets and temporary access entrances: The performance and payment security required for any permit for a commercial driveway, subdivision street, or temporary access permitted under section 125.10(a) of this Title shall be for an amount sufficient to ensure the completion of the permitted work and the payment of all associated expenses, including the expenses for which the permittee is responsible to the Department of Transportation. The amount of performance security required shall not exceed the collective value of all work to be performed by or for the permittee in that portion of the project location that is on State land. The permit shall require as the minimum amount of performance security, an amount that is 50 percent of the estimated value of all work to be performed by or for the permittee in that portion of the project location that is on State land.
Permit traffic signals or other overhead attachments: The performance and payment security required for any permit for to install a traffic signal permitted under section 125.11 of this Title, or to construct maintain or alter other overhead features on or attached to traffic signals, bridges or sign structures, shall be for an amount sufficient to ensure the completion of the permitted work and the payment of all associated expenses, including the expenses for which the permittee is responsible to the Department of Transportation. The amount of performance security required shall not exceed the estimated cost of the traffic signal or other work. The permit shall require as the minimum amount of performance security, an amount that is 50 percent of the estimated value of all work to be performed by or for the permittee in that portion of the project location that is on State land. Performance security shall be limited to the period of time that extends until the satisfactory completion of the work and the release of liens, except that for traffic signals, the department may elect to retain performance security in the amount of $1,000 for a period of time extending one year beyond the date that the work is satisfactorily completed in order to provide adequate time to assure that the signal is free from defects or that the cost of maintenance or necessary repairs is paid.
Annual maintenance permits: The performance and payment security required for any annual maintenance permit to maintain or replace existing under-ground or above-ground facilities permitted under Part 129 of this Title, including electric power, communications, poles, gas or water lines shall take the form of an undertaking or shall consist of some other form of security in the amount of $100,000.
Vegetation control permit: The performance and payment security required for any permit to control vegetation in connection with any outdoor advertising sign permitted under Part 134 of this Title shall be in the amount of $10,000.
Other permits: The performance and payment security required for any permit for any other purpose shall be in the amount sufficient to assure the restoration of the State lands to their condition prior to the event. The amount of performance security required shall be at the discretion of the department based upon the projected cost of assuring restoration. Such security shall not exceed $10,000.