An Nevada contractor's license bond is required from general contractors and specialty contractors with special surety bond requirements for contractors that engage in residential pool and spa work. The surety bond guarantees contract compliance and financial obligations to firm employees. The bond requirement may enhance the financial responsibility provisions of NRS 624.262.
The Nevada contractor's license bond is addressed under NRS 624.270. An applicant must file with the Board a surety bond in a form acceptable to the Board executed by the contractor as principal and a surety company authorized to transact business in Nevada. The amount of the surety bond is set by the Board with reference to the contractor’s financial and professional responsibility and the magnitude of the contractor’s operations, but must be not less than one thousand dollars ($1,000) nor more than five hundred thousand dollars ($500,000). NRS624.273 addresses more specifically the nature of the Nevada contractor bond obligation which are incorporated in the bond form. The instrument runs to the benefit of any person having a valid claim who:
As owner of the property to be improved entered into a construction contract with the contractor and is damaged by failure of the contractor to perform the contract or to remove liens filed against the property: or
As an employee of the contractor performed labor on or about the site of the construction covered by the contract; or
As a supplier or materialman furnished materials or equipment for the construction covered by the contract; or
Is injured by any unlawful act or omission of the contractor in the performance of a contract.
The Nevada State Contractors Board provides a resource page with all of the forms and instructions needed for contractor license initial applications and renewals. The application is extensive and submission of an entire licensing package is required in order for the Board to set the surety bond amount. Final documents may be submitted to either the northern or southern Nevada offices.
Nevada State Contractors Board
2310 Corporate Circle, Suite 200, Henderson, NV 89074
5390 Kietzke Lane, Suite 102, Reno, NV 89511
Nevada surety bond leader, Surety One, Inc. is a specialist in providing for the bonding needs of general, specialty and artisan 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 Nevada 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.
MORE ABOUT "CONTRACTOR'S BONDS"
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: