Denver Parking Lot Bond Guide
If you’re applying for a parking lot license in Denver, you’ll need a surety bond. Learn how the bonding process works in this quick guide.
Bond Overview
- Purpose: To ensure parking lot owners follow all regulations and protect client safety
- Who Needs It: All licensed parking lot or garage owners
- Regulating Body: The City and County of Denver, Department of Excise & Licenses
- Required Coverage: $1,000
- Premium Rate: $100
What Is a Denver Parking Lot Bond?
A City and County of Denver parking lot bond holds owners responsible for upholding all local laws and regulations.
It protects drivers and the city/county from financial harm if they fail to comply.
How Much Do Parking Lot Bonds Cost?
The $1,000 Denver parking lot bond costs a flat rate of $100 for all applicants. Buy your bond instantly online now.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a Denver Parking Lot Bond Work?
A City and County of Denver parking lot bond creates a financial contract between three parties:
- Principal: The parking lot/garage owner
- Obligee: The City and County of Denver, Department of Excise and Licenses
- Surety: The underwriting surety market
If the parking lot operator breaks municipal code, harmed parties can file claims for reimbursement up to the $1,000 bond amount.
Who Needs a Parking Lot Bond?
Under Denver Municipal Code Chapter 55 Article IV, any parking lot/garage owner must file a $1,000 bond. This is a prerequisite to receive a business license.
How Do I Get a Parking Lot Bond in Denver?
You can get a Denver parking lot bond in minutes from SuretyBonds.com. Just submit your information and checkout online. We’ll deliver your official bond documentation instantly via email.
How Do I Renew My Parking Lot Bond?
These bonds expire annually. To renew your bond, simply pay the renewal invoice. We’ll do the rest!
The surety can cancel the bond by providing 90-days written notice to the Department of Excise and Licenses.