171. HOW TO Replace an ILOC with a Subdivision Bond

 

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:

  1. Have your insurance agent contact us or the land developer can call us directly to start the process.
  2. We’ll get to know you and find out about the project.
  3. We approve the bond, and normally no collateral (security deposit) is required!
  4. Contact the planning board and request permission to replace the ILOC with a Subdivision Bond.
  5. 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

FIA Surety / First Indemnity of America Insurance Company, Morris Plains, NJ

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

 

 

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