Pursuant to changes in state law (NCGS Chap. 87, Art. 4) an electrical contracting license can be granted as a limited authority, under which a licensee can perform in a single electrical contracting project of a value not in excess of fifty thousand dollars ($50,000) and on which the equipment or installation in the contract is rated at not more than 600 volts, an intermediate authority, under which a licensee can perform a single electrical contracting project of a value not in excess of one hundred thirty thousand dollars ($130,000), or; an unlimited classification, under which a licensee shall be permitted to engage in any electrical contracting project regardless of value. New North Carolina Letter of Bondability requirements have been likewise instituted with the law change. Further, the Board is empowered establish appropriate standards for each classification which are consistent with the provisions of G.S. 87-42. The Board may, by rule, modify the project value limitations up to the maximum amounts set forth in this Article for limited and intermediate licenses no more than once every three years based upon an increase or decrease in the project cost index for electrical projects in the State of North Carolina.
On application for the North Carolina Electrical Contractor license, the applicant must provide a bonding ability statement completed by a surety bond company licensed to do business in North Carolina, verifying the applicant’s ability to furnish performance bonds for electrical contracting projects having a value in excess of fifty thousand dollars ($50,000) for the intermediate license classification and in excess of one hundred thirty thousand dollars ($130,000) for the unlimited license classification. This is a change in the previous North Carolina letter of bondability requirements of forty thousand ($40,000) and one hundred ten thousand dollars ($110,000) respectively. The bonding ability statement financial information must be in the same name as the license to be issued. If the firm for which a license application is filed is owned by a sole proprietor, the bonding ability statement or other financial information may be furnished in either the firm name or the name of the proprietor. If the application is submitted in the name of a sole proprietor, the applicant must submit information verifying that the person in whose name the application is made is in fact the sole proprietor of the firm. Application materials must be submitted to:
NC State Board of Examiners of Electrical Contractors
PO Box 18727
Raleigh, NC 27619-8727
North Carolina surety bond leader, Surety One, Inc. is a specialist in providing for the bonding needs of the construction, electrical, HVAC and commercial contracting industries. We offer this class of surety instrument to all applicants in every state where contractors must provide verification of bondability. Call (800) 373-2804, visit SuretyOne.com or email Underwriting@SuretyOne.com for an North Carolina bondability letter application or information about any surety need.
