Contractor License Bonds Explained
Channel: Bryant Surety Bonds, Inc.
Date: 2021-04-29

Source: https://bit.ly/3BsOaaX 

Transcript:
If you want to launch a business as a construction professional - be it a general contractor, HVAC, plumber, or electrician - you're likely to have to obtain a contractor license bond.

The contractor license bond is a legally binding agreement between three parties - you as the principal - the obligee, the government agency requiring the bond - and the surety bond company that backs the bond.

Usually, it’s your local or state authorities that require you to get bonded as part of your licensing process. The respective authority also sets the amount of the surety bond that you need to provide.

The bond guarantees you’ll follow the local laws and regulations in delivering your construction services. In case you breach the agreement, a claim (https://bit.ly/3JodOQm) can be filed against your surety bond. A claim can be due to things like using fraudulent business practices, failure to pay your taxes, and others.

So how much does a contractor license bond cost? 
The cost of your contractor license bond is a small percentage of the required bond amount - typically between 1 and 5%. Your bond premium is largely affected by your credit score as a sign of your credibility. Other factors, such as business finances, industry experience, and years in business can further affect your final price.

For example, if you have to obtain a $15,000 contractor license bond in California, and your finances are strong, your premium can be as low as 1% of the bond amount, or $150.

Bryant Surety Bonds is authorized to issue contractor license bonds in all 50 states (https://bit.ly/3OTM1YR). 
Because of our large volumes and our relationships with the top surety bond providers in the US, we can offer you some of the lowest contractor license bond premiums (https://bit.ly/3PTz6I2).
 
With our online application you can apply - buy - and print your bond in minutes. 
Most applicants get approved instantly through our SuretyCloud software. 

Simply visit bryantsuretybonds.com and start your application today: https://bit.ly/3vqM5bF

Additional resources:
1. Get a FREE bond quote now: https://bit.ly/3vqM5bF
2. Contractor Bonding Requirements by State - Choose Your State: https://bit.ly/3BsOaaX 
3. How to Get a Contractor’s License: https://bit.ly/3biLL87
4. What Does It Mean to Be a Licensed, Bonded and Insured Contractor? (Contractor Licensing Requirements By State): https://bit.ly/3oG7oCB
5. What is a Surety Bond: https://bit.ly/3BAuyBR
6. How Much Does a Surety Bond Cost: https://bit.ly/3Q8pOYb
7. Surety Bonds Frequently Asked Questions: https://bit.ly/3QepIhX