In order to perform contractor license work for the city of Northlake, Illinois, you are required to obtain a $10,000 surety bond and have that bond filed with the city.
Northlake is therefore the bond’s obligee, that is, they are the entity which is requiring the surety bond.
AmeriPro Surety Bonds offers this $10,000 bond and it is easy to qualify and low-priced.
The $10,000 surety bond required of contractors is required of any work not only done for the city, but in the city.
Such work requiring the $10,000 surety bond includes:
And many others..
The $10,000 Illinois Northlake contractor license bond exists as a financial guarantee for the city of Northlake that a licensed contractor will perform work – and perform it according to state and local ordiance.
The bond’s existence allows the city to file against the bond for acts of willful or negligent violations of the law committed by a contractor or any related employees.
But the bond is not an insurance policy.
Should a claim be paid by the surety to Northlake, it is your legal responsibility to repay the surety for all costs and fees in the settlement of the claim.
You will pay nowhere near the $10,000 surety bond amount required for this bond.
Applicants may pay as little as $100 annually for this bond. You also have the option of prepaying the bond for 3 years where you may pay as little as $250 for the 3 year period.
Once purchased, the bond will last between 1 and 3 years from the date of purchase (if you’ve prepaid or not).
And the surety bond must be active at all times. A lapse in coverage equates immediately to your inability to perform contractor work for Northlake.
Qualifying for this particular surety bond is easy. The application can be accepted over the phone, and depending on when you call, the bond may be issued within a few hours.
Our goal is to make the surety process easy and efficient.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, contractor, court, and fiduciary bonds throughout Illinois.
We also provide surety bonds nationwide.