What is a License Bond for Signs and Advertising?
What is a License Bond for a Sign Permit and Advertising?
Given that advertising, especially for signs (drive down the highway and you’ll see what I mean), can be a difficult business, a bond is required to make certain the signs abide by all local laws and regulations. The inspections division is responsible for ensuring compliance with city regulations when issuing sign permit bonds.
To get a Signs and Advertising Bond for your state, just click on the appropriate Purchase Now button in the table below to see the premium for the bond and on-line application form. If you need a bond in a state that is not listed, email [email protected] or call (979) 314-2999 for immediate assistance.
Benefits of a Sign Permit Bond
A sign permit bond offers several benefits to businesses and individuals in Salem, MA. One of the primary advantages is that it provides financial protection to the city in case a business or individual fails to comply with local laws and regulations. This bond also ensures that signage is installed and maintained in a way that does not harm the city’s visual landscape or obstruct pedestrian pathways.
Additionally, a sign permit bond can enhance business visibility in Salem by ensuring that signage is compliant with local ordinances. This can lead to increased foot traffic and brand recognition, ultimately benefiting the business. Furthermore, the bond can provide a sense of security to property owners, as it guarantees that signage will be installed and maintained in a responsible manner.
How to Obtain a Sign Permit Bond
Obtaining a sign permit bond in is a straightforward process. Businesses and individuals can apply for a bond through a surety company, such as Axcess or Swiftbonds. These companies offer instant quotes and flexible bond terms to meet the needs of clients.
To apply for a bond, businesses and individuals will need to provide basic information, such as their name, address, and phone number. In some cases, a credit check may be required, but this is not always necessary. Once the application is approved, the bond will be issued, and the business or individual can proceed with installing their signage.
Cost of a Sign Permit Bond
The cost of a sign permit bond in Salem, MA varies depending on the surety company and the bond terms. However, in general, the cost of a sign permit bond is a premium payment that is typically a percentage of the bond amount.
For example, a $5,000 sign permit bond may cost $100 annually. This premium payment is a small price to pay for the financial protection and peace of mind that a sign permit bond provides. Additionally, the cost of a bond can be a tax-deductible business expense, making it a worthwhile investment for businesses and individuals.
Claims Against a Sign Permit Bond
In the event of a claim against a sign permit bond, the surety company will handle any remittance of damages to the city or property owner. If a claim is filed, the business or individual who purchased the bond will be liable for full repayment to the surety.
However, if a claim is found to be false or exaggerated, the surety company will complete all due diligence and deny the claim. In this case, the business or individual can continue their operations as usual, and the claim will have no effect on their permit, bond, or business operations.
To avoid claims against a sign permit bond, businesses and individuals should prioritize resolving any issues that may result in a claim before it becomes a formal claim. This can include ensuring that signage is installed and maintained in compliance with local laws and regulations, and cooperating with government agencies and property owners.