A surety instrument guarantees that individuals or entities performing work within public thoroughfares will adhere to all applicable regulations and restore the affected area to its original condition. For example, a utility company needing to dig under a street to repair a water main might be required to obtain this financial guarantee.
This type of assurance provides significant protection to municipalities and the public. It ensures financial resources are available to cover potential damages or non-compliance, preventing taxpayers from bearing the burden of substandard work or unfulfilled obligations. Historically, such guarantees have been crucial in maintaining the integrity of public infrastructure and minimizing disruptions to daily life.
