The state statute that obligates contractors to provide bonding, RCW 18.27.040 (1) has been amended to require increased Washington contractor license bond penalties. Effective July 1st of this year, the minimum surety bond amounts required from both Specialty and General Contractors licensed by the Department of Labor & Industries (L&I). Specifically, the Specialty Contractor Bonds are affected.
Pursuant to code, “(1) Each applicant shall file with the department a surety bond issued by a surety insurer who meets the requirements of Chapter 48.28 RCW in the sum of $30,000 if the applicant is a general contractor or $15,000 if the applicant is a specialty contractor. If no valid bond is already on file with the department at the time the application is filed, a bond must accompany the registration application. The bond shall have the state of Washington named as obligee with good and sufficient surety in a form to be approved by the department. The bond shall be continuous and may be canceled by the surety upon the surety giving written notice to the director.”
In less than sixty days, all contractors must come into compliance. The Department will SUSPEND the operations of non-compliant contractors. Learn more about the Washington contractor license bond and download an application from our site here. Washington 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 or email Underwriting@SuretyOne.com Washington contractor’s license bond application or to discuss your particular needs.
