FAQs • Pierce County, WA • CivicEngage

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PPW Development Center - Financial Guarantees

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1. When will my bond or assignment of funds be released?: After final inspection, if the work is found acceptable and all other requirements have been met, the review engineer will give final approval to release the bond/assignment. A release letter is prepared, and the original bond/assignment is returned to the principal, with a copy going to the issuing financial institute.

2. May we use our own bond form?: No. The Planning & Land Services Department will only accept bonds/assignments on our own forms. Both forms are available online.

3. Will the Planning & Land Services Department accept a personal check or cash in lieu of obtaining a bond or assignment of funds from a financial institute?: No. The Planning & Land Services Department does not accept personal checks or cash in lieu of obtaining a bond or assignment of funds.

4. When does the 24-month period begin?: The 24-month period will begin when the County has inspected and accepted the construction.

5. The property has been sold. When can I expect the return of my bond/assignment?: The bond/assignment has to remain in place until the underlying requirement (construction completion, monitoring, defect repair, maintenance, etc.) has been met. It is this department's recommendation that if the project/lots is/are sold, private financial arrangements should be made between you and the new owner(s) to impose and transfer this financial responsibility to them.