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Effective July 1, 2024, Washington state has raised the bond amount for general and specialty contractors to register or renew their registration with the Washington Department of Labor & Industries (L&I). The bond amount for general contractors increased from $12,000 to $30,000. For specialty contractors (registered in one specialty, such as concrete or painting), the…

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…

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,…

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,…

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…

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…

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…

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…

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…

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…