Securities requirement

Requirements for approval before a road occupancy permit can be issued.

Before the Road Occupancy Permit is issued and work starts within the Regional right of way, the Applicant shall submit a detailed cost estimate for all proposed works within the Regional right of way, including but not limited to pavement cut or sidewalk cut (or both); the cost estimate shall be stamped and signed by a Professional Engineer licensed in Ontario, and shall be subject to review and approval by Peel Region.

The Applicant shall provide the financial securities to Peel Region in the form of either a letter of credit or a certified cheque, in the amount of 100% of the Peel Region-approved estimated cost of complete restoration, plus a 10% contingency, for all works within the Regional right of way.

The Applicant shall pay Peel Region an engineering and inspection fee equal to 10.8% of the approved estimated cost of complete restoration associated with pavement cut or sidewalk cut (or both). The minimum engineering and inspection fee payable shall be $1,820.53, irrespective of the total estimated construction cost.

All securities submitted shall clearly reference the associated road occupancy permit number “xxxxxx” within the description provided by permit staff. Where a letter of credit is provided, it shall be unconditional, irrevocable and in a form acceptable to Peel Region.

Should a certified cheque be pursued to submit securities, the cheque shall be made payable to “Peel Region”, delivered at the address provided, made to permit staff’s attention.

The road occupancy permit shall not be issued, nor shall any work commence within the Regional right of way, until all required documentation, securities, and applicable fees have been received and accepted by Peel Region.