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

Contractors License Surety Bond Residential General Arizona

Contractors License Surety Bond Residential General Arizona

Contractors License Surety Bond Residential General Arizona

Contractors License Surety Bond Residential General Arizona. Residential General Construction Contractors need to be licensed and post a Residential General Contractors License Surety Bond in order to secure 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 following surety bond amounts are available for Arizona Residential General Contractors License Bonds.

 

WHO NEEDS TO POST AN ARIZONA CONTRACTOR LICENSE BOND?

The bonding requirement applies to different types of contractors. It’s best to contact the Arizona Registrar of Contractor to see if you need one or not.

 

In general, both residential and commercial contractors need a bond. If you work in both areas, you will have to get two separate licenses, which means two separate contractor license bonds as well.

 

How much does an Arizona contractor license bond cost?

 

Your bond cost depends on several different factors. First, it’s important to identify the total value of the bond you are required to post. The total value refers to the maximum protection the bond offers to potential claimants.

 

For commercial contractors and residential contractors alike, the total values most often varies on their annual volume of work. So, for a small contractor, the bond can be as little as $2,500, while larger contractors can be required to post bonds up to $100,000.

 

After you know the total value of your bond, you can get a rough estimate of the premium you will be required to pay. Premiums are determined by the surety underwriter after a thorough analysis of your credit report and financials. Applicants with acceptable credit may pay as little as 0.75% of the total value of the bond.