What the City of Tustin, CA Grading Permit Bond is for
The city, county or highway department usually asks for this bond before it issues a permit to work in, cut or move heavy loads over a public road or sidewalk. It guarantees the work meets their rules and that damage is put right.
The bond amount is set by the agency, utility or fund that asks for it. If the bond holder doesn't meet their obligations, a valid claim is paid up to that amount, and the bond holder repays the surety.
What the price depends on
The starting rate. A credit check and an underwriter's review set your final price, and you see it before you pay.