Surety Renewal Program
The Surety Renewal Program ensures Land Development Sureties remain current and in effect until such time requirements for release have been met. Courtesy Copies are provided to Banks, Surety Companies and Surety Agents.
- Mailed 60 days prior to Surety Term Expiration;
- Generated by Bond Administrator at the end of each month;
- Indicate the due date (30 days prior to Surety Term Expiration) for the required Letter of Credit Renewal Amendment or Surety Bond Continuation Certificate. If these documents are not submitted by this date, we will begin the process to present the Letter of Credit for payment to the bank, or financial institution for payment to the City of Charlotte;
- Provide requirements for surety release/return;
- Indicate reduction eligibility and guidelines for requesting reduction;
- Provide contact information for Land Development Staff overseeing the bonded work; and
- Include information sheet to confirm contact information on file for Developer/Builder, Financial Institution or Surety Company (and Surety Agent, if applicable).
Please note, there is an annual renewal fee for sureties four (4) years and beyond the original effective date. The applicable bond fee must be submitted with surety renewals. The renewal will not be processed until the Surety Reduction, Renewal and Replacement Request Form is submitted and payment is received.
Any changes in surety format or principal require the replacement of that surety to reflect those changes. Surety replacements can be requested by submitting the Surety Reduction, Renewal and Replacement Request Form and the applicable bond fee. Please be advised that replacement requests will not be processed until payment is received.