The San Francisco Parking Tax Bond is required by the City and County of San Francisco, California.
The San Francisco Parking Tax Bond is in force to help ensure that parking lot owners and operators adhere to the following rules and obligations in San Francisco’s City Law Code:
The bond guarantees that the bond principal (the person or entity that purchased the bond, in this case the owner or operator of the parking structure) properly pays the obligee (the person or entity who requires the bond, in this case the City of San Francisco) the parking lot taxes. If a claim is made on the bond by the obligee, the surety will look to the principal (parking lot owner) and its indemnitors to make it whole. The San Francisco Parking Tax Bond is not insurance for the parking lot owner, it is insurance to the city that the taxes are paid on time and in full.
At Surety1 we make it easy to apply your surety bond. Simply complete our easy to use, online application and usually within a business day one of our surety bond professionals will contact you with a quote. For larger bonds, financial statements may be required by the surety. Once approved, make payment and the bond will be shipped to you via traceable mail. Overnight delivery is also available. Once you receive the bond, you must sign it and turn it into the city.