As of January 1st, 2015 the Alaska Department of Commerce will require different, enhanced levels of surety bonding based on the class of license applied for. The contractor classes as defined by statute and the corresponding bond levels are as follows:
General contractors may perform new home construction, commercial work, and residential remodel work. Those that oversee new home construction or perform residential work greater than 25% of the value of the structure being altered must obtain a residential contractor endorsement. General contractors who perform commercial work or do residential remodel work lesser than 25% of the value of the structure being altered are not required to have the endorsement. The Alaska General Construction Contractor license surety bond must be in the amount of $25,000 except for those GCs performing exclusively residential work in which case the surety bond must be $20,000.
Specialty contractors may perform work that requires the use of not more than three trades. 12 AAC 21.200 - .570 lists all acceptable trades. If an applicant applies for the "Other Specialty" category, detailed and complete description of the work to be performed must be submitted for review by the Division. If the applicant's work falls under more than three trades then the applicant must apply for a general contractor license type. The Alaska Specialty Contractor license surety bond must be in the amount of $10,000.
Mechanical may perform any of the mechanical disciplines for which they have a specially named company administrator assigned (plumbing, heating, sheet metal, or refrigeration). Mechanical contractors may perform only mechanical work. The Alaska Mechanical Contractor license surety bond must be in the amount of $10,000.
All surety bonds and application materials must be submitted to the Department of Commerce:
Alaska Department of Commerce, Community and Economic Development
Division of Corporations, Business and Professional Licensing
CONTRACTOR LICENSING SECTION
State Office Building, 333 Willoughby Avenue, 9th Floor
PO Box 110806, Juneau, AK 99811-0806
Fax: (907) 465-2974 Website: www.commerce.alaska.gov/occ
Alaska surety bond leader, Surety One, Inc. is a specialist in providing for the bonding needs of construction and commercial contracting professionals. We offer this class of surety bond to all applicants in every state where contractors must be bonded. Although personal credit is a factor in surety bond underwriting, we have programs to fit EVERY credit condition. Call (787) 333-0222 or (800) 373-2804, or email Underwriting@SuretyOne.com for an Alaska contractors surety bond application or to discuss your particular needs.