The Land Developer’s money is tied up because an ILOC* was used to secure the township instead of a Subdivision Bond. It’s not too late to fix this critical error! (Why an error?)
Here’s how to do it:
- Have your insurance agent contact us or the land developer can call us directly to start the process.
- We’ll get to know you and find out about the project.
- We approve the bond, and normally no collateral (security deposit) is required!
- Contact the planning board and request permission to replace the ILOC with a Subdivision Bond.
- We issue the bond. The developer’s ILOC, and the funds that back it are released!!
It’s just that simple…
Let’s go! Call FIA Surety: 973-541-3417
We are currently licensed in: NJ, PA, DE, MD, VA, NC, SC, WV, TN, FL, GA, AL, OK, TX
*Irrevocable Letter of Credit issued by bank