A Louisiana contractor license bond is required from both contractors (all classes) and subcontractors. The surety bond guarantees that the licensee will pay all taxes, penalties, and costs levied pursuant to the state's laws and ordinances of its political subdivision. The obligation also guarantees the faithful performance all of the conditions and requirements of those laws. Contractor and subcontractor license bond are filed with the licensing board for contractors. There are three statutorily defined license classes. Per Title 37 of the Louisiana Revised Statutes, Chapter 24, . . .
The Louisiana contractors and subcontractors bond runs to the Department of Revenue. The surety bond penalty is fixed by the board. Per the language of the obligation, "This is a continuing bond and may be terminated by either Surety or Principal by giving the other 90 (ninety) days prior notice of such intention to terminate the bond. In the event the bond existing between the Principal and Surety is canceled, the Principal shall be required to give a new surety bond before the 90 days elapse."
National 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 Louisiana contractor's license bond application or to discuss your particular needs.
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Surety bond application review and quoting are free of charge. There is no obligation to purchase.