For contractors who must be licensed with the Registrar of Contractors (new or current), dealers of manufactured housing, or prime contractors. The bond amount varies depending on the type of work being performed. Factors to determine the bond amount include:
- The gross value of the contract.
- The value of the land is included in the contract.
- The overall volume of work.
The costs can start as low as $175 for a two-year term but may vary based on the bond value and the personal credit associated with the licensee. This bond type is only sold in two-year terms.