VA condo assessments bonds.
From $225 at the $10,000 statutory minimum. Enter your amount.
A condominium declarant in Virginia must post a bond in favor of the unit owners’ association guaranteeing the assessments on the units the declarant still owns. It is filed with the Common Interest Community Board under Code of Virginia § 55.1-1968; premiums start from $225 at the $10,000 statutory minimum, and the application collects no credit information at the standard amount.
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Apply to filed in one sitting.
No underwriting queue for the standard condo assessments bond — enter your amount, pay, and file with the CIC Board. Here is the whole thing:
Apply online
Your declarant details, the bond amount ($1,000 per unit), and the effective date — that is the entire application. It collects no credit information at the standard amount.
Issued on the spot
Most applications approve instantly as soon as you pay. Larger amounts may get a quick review, and if a check runs, it is a soft pull that never affects your score.
File with the CIC Board
Submit the executed bond, in favor of the unit owners’ association, to the Common Interest Community Board. Wet-ink originals mailed on request.
What it is and who needs it.
What the condo assessments bond actually covers
Under the Virginia Condominium Act, a declarant (the developer) of a condominium that must be registered with the Common Interest Community Board posts a bond in favor of the unit owners’ association. Code of Virginia § 55.1-1968 conditions the bond on payment of all assessments levied against the units the declarant owns.
The amount is $1,000 per unit, but not less than $10,000 and not more than $100,000. The bond is maintained while the declarant owns more than 10% of the units; if it owns less than 10%, it stays in place until the declarant is current on assessments. The Board may accept a letter of credit in lieu of the bond.
The point is simple: developer-owned units owe assessments like any other, and this bond guarantees the association collects them. We issue the amount your project requires with premiums starting from $225 at the $10,000 minimum; the application collects no credit information at the standard amount.
You need this bond if you are
One application, issued on the spot.
Submit the application with your required bond amount ($1,000 per unit) — no credit fields to fill out, and the executed bond is typically generated instantly, ready to file with the CIC Board.
Start the application →Common questions.
Other Virginia bonds.
Condo assessments bond, issued today.
Premiums from $225. Enter the amount ($1,000 per unit) and file with the CIC Board the same day.