{"id":1411,"date":"2014-07-21T03:22:45","date_gmt":"2014-07-21T03:22:45","guid":{"rendered":"http:\/\/suretyone.com\/blog\/?p=1411"},"modified":"2017-01-03T16:20:31","modified_gmt":"2017-01-03T16:20:31","slug":"oregon-construction-contractors-surety-bond","status":"publish","type":"post","link":"https:\/\/suretyone.com\/blog\/oregon-construction-contractors-surety-bond\/","title":{"rendered":"Oregon Construction Contractors Surety Bond"},"content":{"rendered":"<p>Oregon law requires an <strong><a href=\"https:\/\/suretyone.com\" target=\"_blank\">Oregon construction contractors surety bond<\/a><\/strong> from anyone who works for compensation in any construction activity involving improvements to real property. \u00a0According to the Construction Contractors Board, &#8220;A <strong>CCB surety bond<\/strong> provides a limited amount of financial security for property owners. Surety bonds can only be claimed upon in the event that the bonded contractor is ordered by the CCB to pay damages as the result of a CCB final order, and the contractor fails to pay the order within 30 days. CCB surety bonds are very small compared to the volume of business performed by most construction businesses and are designed to provide an incentive for contractors to pay CCB orders, as opposed to being a comprehensive safety net for consumers.&#8221;<\/p>\n<p>The principal must also be licensed with the Oregon Construction Contractors Board (CCB). The regulated business activities include roofing, siding, painting, carpentry, concrete, on-site appliance repair, heating and air conditioning, home inspections, tree service, plumbing, electrical, floor covering, manufactured dwelling installations, land development and most other construction and repair services. An applicant for a license must post with the CCB a bond from a corporate surety authorized to do business in Oregon and in an amount set forth in ORS 701.081 or 701.084. If the contractor is going to hold endorsements as both a residential contractor and a commercial contractor, then the contractor must post an <strong><a href=\"https:\/\/suretyone.com\/commercial-surety-bonds\" target=\"_blank\">Oregon construction contractor surety bond<\/a><\/strong>\u00a0for each endorsement. \u00a0The surety bond for a residential contractor must guarantee that the contractor will pay amounts ordered paid by the board under ORS 701.145. The surety bond for a commercial contractor must guarantee that the contractor will pay amounts ordered paid by the Board under ORS 701.146. Oregon contractors surety bond obligations filed under the licensing statute must remain in effect for at least one year or until depleted by payments under ORS 701.150, 701.153 and 701.157, unless surety cancels the bond. \u00a0The bond may be continued for an additional period by the surety\u2019s continuation certificate. The obligation is not cumulative, being limited to the penal sum of the Oregon contractor bond\u00a0no matter how many years that it is in force. The bond required under Section 701 is for the exclusive purpose of payment of final orders and arbitration awards of the board in accordance with the law. \u00a0The contractor and his or surety should also be aware that failure of surety to immediately pay a final order will likely result in assessment of costs, attorney fees to the prevailing party as part of the costs, and twice the amount of any damages that the Board ordered the surety to pay on the complaint, if the surety arbitrarily and capriciously refused to pay a final order. License applications and surety bonds should be forwarded to:<\/p>\n<p>Oregon Construction Contractors Board<\/p>\n<p><strong>Construction Contractors License Surety Bond<\/strong><\/p>\n<p>700 Summer Street, N.E., Suite 300<\/p>\n<p>Salem, OR\u00a0 97309-5052<\/p>\n<p><strong>Oregon surety bond leader<\/strong>,\u00a0Surety One, Inc.\u00a0is a specialist in providing for the bonding needs of the construction and commercial contracting industries. \u00a0We offer this class of\u00a0surety bond\u00a0to all applicants in every state where contractors must be bonded. Visit\u00a0<a href=\"https:\/\/suretyone.com\" target=\"_blank\">SuretyOne.com<\/a>, call\u00a0<span style=\"color: #ff0000;\">(787) 333-022<\/span>2\u00a0or\u00a0<span style=\"color: #ff0000;\">(800) 373-2804<\/span>, or email\u00a0<span style=\"color: #ff0000;\">Underwriting@SuretyOne.com<\/span>\u00a0for an\u00a0<strong><a href=\"https:\/\/suretyone.com\/surety-bonds-a-to-z\" target=\"_blank\">Oregon construction contractors surety bond<\/a><\/strong>\u00a0application or information about any surety need.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oregon law requires an Oregon construction contractors surety bond from anyone who works for compensation in any construction activity involving improvements to real property. \u00a0According to the Construction Contractors Board, &#8220;A CCB surety bond provides a limited amount of financial&#8230; <a class=\"more-link\" href=\"https:\/\/suretyone.com\/blog\/oregon-construction-contractors-surety-bond\/\">Continue Reading &rarr;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[168],"tags":[1769,1767,1770,1766,1765,1397,1768],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.7.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Oregon Construction Contractors Surety Bond &bull; Surety One, Inc.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/suretyone.com\/blog\/oregon-construction-contractors-surety-bond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oregon Construction Contractors Surety Bond &bull; Surety One, Inc.\" \/>\n<meta property=\"og:description\" content=\"Oregon law requires an Oregon construction contractors surety bond from anyone who works for compensation in any construction activity involving improvements to real property. \u00a0According to the Construction Contractors Board, &#8220;A CCB surety bond provides a limited amount of financial... 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