Contractors License Bond
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A Contractor License bond guarantees the contractor will comply with all statutes and licensing regulations that the state has set forth in the bond form. The Contractor License Bond is one of the most common types of Surety Bonds. This license bond is for a contractor to obtain their license with the state not to be confused with a Payment and Performance Bond.
The bond amount varies from state to state. Please check with the state for the correct bond amount and the bond form since every state has a different requirement.
We have a wide range of surety markets that can write Contractor License Bonds at preferred rates as long as the contractor can meet the surety company’s requirements. We also have several Surety markets that will entertain Surety bonds even if the contractor has less than preferred credit, lack of business financials or negative business equity.
As of January 1, 2008 the Oregon General Contractor license bond (all structures or residential only) has increased to $20,000
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We also specialize in Arizona Contractor License Bonds no matter what the bond amount is.
Contractors that have this bond are sometimes required to have a Payment and Performance Bond this bond guarantees the faithful performance of a construction contract. Call today if you would like to speak to a surety bond expert, to set up a free bonding line for you.
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