Connecticut Lease Bond Guide
If you’re leasing state-owned property in Connecticut, you’ll likely need this surety bond.
Bond Overview
- Purpose: To ensure the lessee fulfills all lease terms
- Who Needs It: Anyone leasing state highway-adjacent property in Connecticut
- Regulating Body: The Connecticut Department of Transportation
- Required Coverage: $10,000–$100,000
- Premium Rate: Credit-based, typically 1–10%
Learn all about the bond requirements and process in this guide.
What Is a Connecticut Lease Bond?
A Connecticut lease bond ensures lessees of state property comply with lease terms, pay rent and restore land when required.
The Connecticut Department of Transportation (CTDOT) determines your bond amount based on the lease type and potential risk to the state.
How Much Do Lease Bonds Cost?
Connecticut lease bonds cost a small percentage of the coverage amount, typically 1–10%.
Exact rates vary based on personal credit score. Apply for your free quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs a Lease Bond?
The Connecticut Department of Transportation requires this bond for anyone leasing state-owned property that is on, above or below the state highway right-of-way.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get a Connecticut lease bond. Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your quote within one day
- Sign: Complete the indemnity agreement
- Buy: Purchase the bond online 24/7
We’ll mail you the bond via your preferred shipping method. Be sure to file it with the CTDOT as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a Connecticut Lease Bond Work?
A lease bond creates a legal contract between these three parties:
- Principal: You, the lessee filing the bond
- Obligee: The Connecticut Department of Transportation requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the provisions of Connecticut General Statutes § 4b-38.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you must ultimately refund the surety.
How Do I Renew My Bond?
These bonds expire annually. Your bond must remain active throughout the duration of your lease. To renew your bond, pay your renewal invoice and submit the updated bond form to the CTDOT.
We’ll begin contacting you by phone and email 90 days before the expiration date.
