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Subdivision is the process of subdividing something, usually land, into smaller pieces. A subdivision is one of these pieces. Often, the local government will require that a surety bond is in place to begin work on a subdivision. The bond is required to guarantee completion of the job. Some obligees will allow the principal to obtain other forms of gurantee including: Irrevocable Letter of Credit (ILOC), Tripartite Agreements, or Certificates of Deposit (CDs).
The following articles deal with subdivisions:
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