5832 W Camelback Rd ste 1, Glendale, AZ 85301, EE. UU.
(800) 380-1412

Contractors License Surety Bond Commercial Speciality Arizona

CONTRACTORS LICENSE SURETY BOND COMMERCIAL SPECIALTY ARIZONA

Contractors License Surety Bond Commercial Speciality Arizona

Contractors License Surety Bond Commercial Speciality Arizona – Commercial Specialty Construction Contractors are required to be licensed and post a Commercial Specialty Contractors License Surety Bond in order to protect their license. Surety Bond amounts are based on the gross volume of work contemplated by the licensee, within the State of Arizona, for the ensuing fiscal year. The next surety bond amounts are available for Arizona Commercial Specialty Contractors License Bonds.

 

Gross Volume (per License) Surety Bond Amount

$0 – $150,000 $2,500.00

$150,000 – $500,000   $5,000.00

$500,000 – $1 Million   $10,000.00

$1 Million – $5 Million $20,000.00

$5 Million – $10 Million $32,500.00

$10 Million +                        $45,000.00

 

WHY IS THIS BOND NECESSARY?

By posting the contractor license bond, contractors agree to follow all the laws and regulations stated within the Arizona Revised Statutes. If any of the following acts are committed, a claim can be made on the bond and the contractor’s license can be canceled or suspended :

 

  • abandoning a contract after submitting a bid

  • failing to pay taxes

  • acting in a fraudulent way resulting in an injury of another

  • aiding someone else to evade/violate specific regulations

  • failing to abide by all safety and labor laws

  • advertising in a false or misleading way

 

HOW TO BECOME A CONTRACTOR IN ARIZONA

The way Arizona differentiates between commercial and residential contractor licenses means the state has previously maintained as many as 238 different license classifications. Adjustments to regulations in 2014 reduced this number by consolidating many commercial and residential licenses into a dual license.

 

Once the applicant has been bonded, then person interested can apply for a contractor license with the state. The following must be provided when filing the application.

 

  • correct license classification reflecting 2014 changes

  • passing score on the correct trade exam

  • all fees paid in the correct amount

  • financial statements

  • necessary background checks

CONTRACTORS LICENSE SURETY BOND COMMERCIAL SPECIALITY ARIZONA