(a) Every applicant for registration shall, as a condition of registration, furnish and file with the Building Commissioner a surety bond in the following amounts:
Suppliers of mixed concrete, as defined in Section 1501.36(b) $200,000
All other contractors or subcontractors, as defined in Section 1501.36(b) $ 25,000
The surety bond shall be upon an official form prescribed by the Building Commissioner. Failure to maintain the surety bond provided for in this section may result in the suspension or revocation of any certificate of registration or renewal thereof to do business as a contractor in the City. Continuation certificates will not be accepted.
(b) The bond required by this section shall be to guarantee full and faithful compliance by the registered contractor with all pertinent provisions of this Building Code and with pertinent rules and regulations promulgated under authority of this Building Code and to bind the surety thereon to correct or abate any violation of the Building Code and all pertinent rules and regulations promulgated under the authority of the Building Code whenever the applicant for registration named as the principal on such bond refuses, neglects or fails to correct or abate such violation within a reasonable time limit set by the Building Commissioner.
(Ord. 169-94. Passed 7-18-94; Ord. 154-22. Passed 10-17-22.)