$50,000 surety bond required by the Department of Professional and Occupational Regulation, Board for Contractors
*Many municipalities require contractors that perform work that encroaches on the streets and highways to obtain a right of way bond in order to obtain a permit. Our contractor's license bond application is all that is required for a quote. National surety bond leader, Surety One, Inc. is a specialist in providing for the bonding needs of general, specialty, mechanical, electrical and artisan contractors. We offer all classes of surety bonds and performance bonds to 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 contractor 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:
- License & Permit Bonds (L&P) - required by states and municipalities to issue a contractor license. These may be simply “obey the code” obligations, or can include onerous wage guarantees.
- Third Party Fidelity Bonds - also known as dishonesty bonds, insure dishonesty losses resulting from the contractor and his or her employees’ actions while providing services on a client’s premises (this is what a party refers to when he says, "We are bonded.").
- Contract performance bonds: bid bonds, payment and performance bonds for particular projects.