Pursuant to Arkansas Code Ann. §17-25-304, a contractor license candidate must provide a financial statement showing a minimum net worth for his or her particular license class. The Contractor's Licensing Board allows in lieu of the financial statement financial assurance in the form of an Arkansas contractor's license bond. The amounts required by the Board are generally ten times the required net worth for the applicant's classification or compliance with the following guidelines:
The Arkansas contractor's license bond must be executed by a resident or non-resident producer that is currently licensed by the Arkansas Insurance Department in the appropriate amount. The contractor's bond must be continuous in form and be maintained in effect for as long as the applicant maintains the license OR until the applicant submits a financial statement showing that it meets the requirements for his or her classification. Contractor license bonds must be submitted to the Board at:
Arkansas Contractors Licensing Board
4100 Richards Road
North Little Rock, AR 72117
Arkansas surety bond leader, Surety One, Inc. is a specialist in providing for the bonding needs of general and specialty contractors. We offer this class of surety bond and performance bonds 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 (800) 373-2804, email Underwriting@SuretyOne.com or click here for a live chat regarding a Hawaii contractor's license bond application or to discuss your particular needs.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.
WHEN A "CONTRACTOR'S BOND" IS NOT A LICENSE OR PERMIT BOND, WHAT IS IT?
A “contractor’s bond” is one of the most common surety bond needs in the North American market but what does that term mean? MANY different parties may require a contractor to provide a "bond". Private and public project owners, state licensing boards and local municipalities all routinely require contractors to file a bond of one type or another to guarantee very specific things. Generally the need will fall in to one of these categories: