Licensed North Carolina state contractors are regulated by the Board for General Contractors.
The Board provides a pdf printout of the laws and regulations for contractors operating in the state.
For those who require it, the contractor license bond is in one of 3 dollar amounts, all of which are provided for you by AmeriPro Surety Bonds.
Furthermore, according to North Carolina law, this surety bond amount is in addition to, not in replacement of, any other surety bonds required of you as a contractor.
Because the surety bond amounts for even the smallest of these surety bonds is still quite large, the application process will be detailed with plenty of questions (particularly as it relates to financial matters) and may take a few days to complete (see below).
Besides information learned from you in your application, there will also be a credit report.
Since there are so many variables – application and credit --- the amount that you will be required to pay may vary substantially.
As a very general and broad rule, for applicants who are well-qualified, the surety bond premium for each of these amounts may be as little as 2% annually --- this comes to $7,000 for the $350,000 surety bond; $20,000 for the $1,000,000 surety bond; and $40,000 for the $2,000,000 surety bond.
We hasten to add that the amount may vary, and AmeriPro Surety Bonds will always work to find you the best surety bond pricing.
Premium financing may also be available for applicants who qualify for this surety bond.
The NC state contractor bond serves as a financial guarantee which ensures your compliance with laws governing contracting in the state.
According to state law, this surety bond protects against others who suffer damage or harm as a result of:
In the event that a claim were ever paid against your surety bond, you ultimately shoulder responsibility to reimburse the surety in full for all costs and fees involved in the settlement of any claim.
As preparation for the application for this surety bond, you may be asked at least some of the following:
Additional information as may be requested.
AmeriPro Surety Bonds is a surety bonds-only agency which provides license and permit, contractor, court, and fiduciary surety bonds throughout North Carolina.
Our agency also provides surety bonds nationwide.
Please call AmeriPro Surety Bonds today to begin the application process: