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How to Become a Licensed Contractor in California, Nevada, Washington, Arizona, and Oregon
From new home builds and renovations to office buildings and industrial structures, chances are you’ll need a state-issued contractor license before embarking on a new project. Across the United States, the processes to obtain your contractor license vary. Once you have your license, you’ll likely still need to obtain a license bond on a per-project…
Read MoreCalifornia Contractor Surety License Bond Renewal: What You Need to Know
Are you planning to work, or already working as, a licensed contractor in California? Before getting started on your next project, you’ll need to make sure you meet the requirements of the Contractors State License Board (CSLB). An essential part of working as a CSLB licensed contractor is carrying a license bond — in fact,…
Read MoreUnderstanding the Different Types of Contract Surety Bonds
Most construction projects today require contract surety bonds. A surety bond is issued to a business entity that engages in a contract with another party. In construction, a surety bond serves as a guarantee that the contractor will uphold their side of the contract — and if not, they will be held financially liable. However,…
Read MoreTips for Reducing Your Contractor License Bond Premiums
Contractors embarking on new projects, from residential builds and renovations to industrial structures and institutional facilities, likely need to file a license bond. License bonds are typically required as part of holding a contractor’s license. Why? License bonds provide an avenue for clients, subcontractors, and suppliers to pursue financial restitution if the contractor causes damage…
Read MoreA Contractor’s Guide for Developing Contracts in Oregon
Before embarking on an exciting new construction contract, it’s important to get all the details written down in a legal contract. Developing a contract can be intimidating for contractors — especially as contract requirements vary across states. In Oregon, contractors are required to have a written contract when a project’s cost exceeds $2,000. However, the…
Read MoreA Contractor’s Guide for Developing Contracts in Nevada
When beginning a new construction project, being on the same page as your client is crucial. A written contract ensures both parties are in sync and protects contractors and clients from legal issues should anything go awry. While developing a contract may seem intimidating, state regulatory boards often provide clear directions on what you should…
Read MoreA Contractor’s Guide for Developing Contracts in Washington State
Beginning a construction project brings plenty of excitement and legal details, too. As you start drafting a contract for clients in the state of Washington, there are requirements to consider that you may not be familiar with. In Washington, contractors have quite a bit of flexibility when developing contracts with clients. The state does have…
Read MoreWhy Are Surety Bonds Based on Personal Credit?
Contractors looking to embark upon a new project must understand the ins and outs of personal credit. While you may have thought about your credit score when applying for a home or apartment, your personal credit score also matters greatly when it comes to applying for a surety bond. It can feel intimidating to explore…
Read MoreWhat Factors Go Into the Cost of Bonds
License bonds for contractors are binding contracts among three parties: the principal (contractor), obligee (entity requiring the bond), and surety provider that guarantees the contractor’s obligations. Most states require contractors to get a license bond to work. The license bond protects subcontractors, residential or commercial clients, and suppliers should a contractor cause damage to these…
Read MoreUnderstanding the Essentials of Credit
When it comes to contractor license bonds, credit may not be the first thing you think about. However understanding the essentials of credit is crucial for parties looking to secure a bond. If you’re a contractor embarking on an exciting new build, understanding the essentials of credit will help you find the best bond rate.…
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