Bonds For Construction Contractors
CCB Surety Bond
A CCB surety bond is required for you to get your Contractors License. You must provide and maintain a CCB surety bond in the full amount that is required for your license endorsement. 3SC Specializes in contractor surety bonding.
There are two major types of endorsements: Residential and Commercial. You must decide if you are going to do Residential Construction (then you need a Residential Endorsement), Commercial Construction (then you need a Commercial Endorsement), or both. If you choose both you will need two bonds, one for Residential Construction and the other for Commercial Construction.
Once you have decide your Major type of endorsement (Residential and/or Commercial) then you need to decide which catagory to file as: General, Specialty, Limited or Developer. 3SC Specialists can provide information to help you make that decision.
Once you have decided on your type of endorsement, look at the chart below to determine the Bond amount you are required to carry.
- Commercial General Contractor Level 1 $75,000
- Commercial General Contractor Level 2 $20,000
- Commercial Specialty Contractor Level 1 $50,000
- Commercial Specialty Contractor Level 2 $20,000
- Commercial Developer $20,000
- Residential General Contractor $20,000
- Residential Specialty Contractor $15,000
- Residential Limited Contractor $10,000
- Residential Developer $20,000
What decides how much you pay for a Bond?
The price of a bond is based on your endorsement and Your credit score.
What is the purpose of a CCB Surety Bond?
The CCB surety bond is a promise by a bonding agency to provide limited restitution to a consumer if a contractor fails to pay a CCB order or arbitration award. A property owner can file a CCB complaint against a contractor for breach of contract or for negligent or improper work. The General and Sub-contractors can make claims against each other’s bonds for the same reasons as the home owner.