Iredell County Demolition Permit Bond: A Comprehensive Guide
July 5, 2021
This guide provides information for insurance agents to help their customers obtain an Iredell County Demolition Permit bond
At a Glance:
- Average Cost: $100
- Bond Amount: $500
- Who Needs it: Property owners or contractors seeking to remove or demolish a building in Iredell County, North Carolina
- Purpose: To ensure the county will receive compensation for financial harm if the contractor fails to complete the job and clear all debris
- Who Requires the Bond: Iredell County, North Carolina
Iredell County Code of Ordinances 4-106 requires all persons seeking to move or demolish a building to obtain a permit with the Building Standards Division. The Iredell County Board of Commissioners enacted the permit requirement to ensure that building demolitions and removals do not adversely affect the county. To provide financial security for the enforcement of the permitting requirement, property owners or contractors performing the demolition/removal must purchase and maintain a $500 surety bond to be eligible for a permit.
What is the Purpose of the Iredell County Demolition Permit Bond?
Iredell County requires property owners or contractors seeking to remove or demolish a building to purchase a surety bond as part of the application process to obtain a demolition permit. The bond ensures that the county will receive compensation for financial harm if the contractor fails to abide by the regulations outlined in Iredell County Code of Ordinances 4-106. Specifically, the bond protects the county if the property owner or contractor abandons the job or fails to clean up all debris. In short, the bond is a type of insurance that protects the public if the property owner or contractor violates the terms of their permits.
How Can an Insurance Agent Obtain an Iredell County Demolition Permit Surety Bond?
BondExchange makes obtaining an Iredell County Demolition Permit Bond easy. Simply login to your account and use our keyword search to find the “Iredell County” bond in our database. Don’t have a login? Enroll now and let us help you satisfy your customers’ needs. Our friendly underwriting staff is available by phone (800) 438-1162, email or chat from 7:30 AM to 7:00 PM EST to assist you.
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Is a Credit Check Required for the Iredell County Demolition Permit Bond?
A credit check is not required for the Iredell County Demolition Permit bond. Because the bond is considered relatively low risk, the same low rate is offered to all applicants regardless of their credit history.
How Much Does the Iredell County Demolition Permit Bond Cost?
The Iredell County Demolition Permit bond costs just $100 per year.
Who is Required to Purchase the Bond?
All property owners or contractors seeking to remove or demolish a building in Iredell County, North Carolina must purchase a surety bond as a prerequisite to obtaining a demolition permit.
How do Property Owners and Contractors Apply For a Demolition Permit in Iredell County?
Property owners and contractors must navigate several steps to obtain a demolition permit in Iredell County. Below are the general guidelines, but applicants should refer to the application form for details on the process.
Permit Period – All Iredell County Demolition Permits expire 6 months from the date of issuance if no work has commenced. Permits will also expire if work is discontinued for 12 months.
Step 1 – Purchase a Surety Bond
Permit applicants must purchase and maintain a $500 surety bond
Step 2 – Complete the Application
Applicants should submit their demolition permit applications, including a $77.25 fee, online here.
Do Property Owners and Contractors Need to Renew Their Iredell County Demolition Permits?
No, property owners and contractors in Iredell County do not need to renew their demolition permits. However, property owners and contractors must apply for a new permit for each demolition/removal job they undertake. Demolition permits will expire 6 months from the date of issuance if the project has not started and will also expire if work is discontinued for 12 months.
What are the Insurance Requirements for Demolition Permits in Iredell County?
Iredell County does not require property owners and contractors to purchase any form of liability insurance as a prerequisite to obtaining a demolition permit. However, most reputable permit applicants will purchase this insurance anyway. Property owners and contractors must purchase a $500 surety bond to be eligible for a demolition permit.
How Do Property Owners and Contractors File Their Iredell County Demolition Permit Bonds?
Property owners and contractors should submit their completed bond forms, including the power of attorney, to the following address:
Iredell County Building Standards Center
349 North Center Street
Statesville, NC 28677
The surety bond requires signatures from both the surety company that issues the bond and the property owner or contractor. The surety company should include the following information on the bond form:
- Legal name and permit classification of the entity/individual(s) buying the bond
- Surety company’s name and state of incorporation
- Entity requiring the bond
- Bond amount
- Date the bond goes into effect
- Date the bond is signed
What Can Property Owners or Contractors do to Avoid Claims Against Their Iredell County Demolition Permit Bonds?
To avoid claims against their demolition permit bonds, property owners and contractors in Iredell County must ensure that they complete all projects and clean up all leftover debris after the demolition/removal takes place.
What Other Insurance Products Can Agents Offer Demolition Permit Applicants in Iredell County?
Most reputable permit applicants will purchase liability insurance. Bonds are our only business at BondExchange, so we do not issue any other types of insurance, but our agents often utilize brokers for this specific line of business. A list of brokers in this space can be found here.
How Can Insurance Agents Prospect for Iredell County Demolition Permit Customers?
Iredell County unfortunately does not provide a public database of active demolition permits in the county. We suggest contacting the Building Standards Division to obtain this information. Contact BondExchange for additional marketing resources. Agents can also leverage our print-mail relationships for discounted mailing services.