Paterson excavation performance bonds.
From $125.
The City of Paterson, NJ requires an excavation performance bond so it has a financial backstop that you’ll complete the excavation and restoration approved on your street-opening permit. The City sets the amount; the premium is 1% of the bond amount plus a $25 fee, $125 minimum, and your exact price appears at the application.
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How much does a Paterson excavation performance bond cost?
1% of the bond amount plus a $25 fee, from $125. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
Enter the amount the City required, pay, and file with Paterson. Here is the whole thing:
Apply online
Your business details, the bond amount on your Paterson permit, and the effective date — that is the application.
Pay & e-sign
The executed bond is generated as soon as you pay.
File with the City
Submit the executed bond to the City of Paterson to satisfy your excavation permit condition. Wet-ink original mailed on request.
What it is and who needs it.
What the performance bond actually covers
When you open a Paterson street, the City wants assurance you’ll finish what you started. A performance bond guarantees you complete the excavation and the restoration the City approved on your permit — to its standards, on its schedule.
It's a three-party arrangement: you (the principal), the surety carrier, and the City of Paterson (the obligee). If you abandon the work or fail to restore the surface, the City can recover against the bond to have the job finished.
This is distinct from a maintenance bond, which covers the restoration lasting after acceptance. The performance bond is the City’s assurance that the work gets done. We issue the amount Paterson set; pricing starts from $125 and depends on your bond amount.
You need this bond if you are
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
File with the City. Submit the executed bond to the City of Paterson to satisfy your excavation permit condition. Wet-ink original mailed on request.
What sets the price
The premium is 1% of the bond amount plus a $25 fee, $125 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check up to $100,000. Above that, the carrier may run a soft pull, which never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued fast.
Submit the application with the bond amount the City of Paterson set — the executed bond is generated ready to file.
Start the application →Common questions.
Other New Jersey bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Paterson performance bond, issued today.
Pricing from $125. Enter the amount the City required and file the same day.