Oregon Contractor Bond | AmeriPro Surety Bonds | 844-589-9732
The contractor’s license in Oregon is divided into residential and commercial categories, which is yet divided again into additional subcategories.
Each category (and subcategory) has the their own surety bond amount required.
AmeriPro Surety Bonds provides contractor surety bonds for all categories, both for newly licensed contractors and those who must renew their Oregon contractor bond and license.
Contractors in Oregon who will work on public works projects with a value of $100,000 or greater will need to obtain yet another surety bond, a public works bond.
AmeriPro Surety Bonds will assist you in obtaining any Oregon contractor bond required.
Becoming an Oregon Contractor
Applicants for the Oregon contractor license will need to complete the following in order to become licensed by the state:
- They will need to complete a pre-licensing course at an approved location. The prelicensing course includes an examination;
- Applicants will need to know what contracting category that they will work in;
- The application fee is $250 and may be paid by credit/debit card or check;
- They will need to complete an application. There will be one of three applications. For residential only; for commercial only ; for commercial and residential;
- Applicants will need to notify the licensing of how their company formation (sole proprietorship, LLC, etc);
- If they are hiring employees, they will need to have worker compensation insurance;
- Applicants will need to have a liability insurance policy in an acceptable amount;
- Applicants will need to file an original (not a copy) surety bond reflective of the type of contracting work to be done.
Oregon Contractor Bond: Purpose
The purpose of the Oregon contractor bond is to protect consumers from any acts which would violate Oregon state or federal laws while performing contractor-related duties.
The surety bond is a guarantee purchased by the contractor to protect the consumer from acts of fraud, theft, or malfeasance in the performance of contracting obligations.
Oregon Contractor Bond: Types of Surety Bonds and amounts
For residential contractors, the subcategories and bond amounts required are as follows:
- Residential general contractor $20,000.00
- Residential specialty contractor $15,000.00
- Residential limited contractor $10,000.00
- Residential developer $20,000.00
- Home services contractor $10,000.00
- Residential locksmith services contractor $10,000.00
- Home inspector services contractor $10,000.00
- Home performance score contractor $10,000.00
For commercial contractors, the subcategories and bond amounts required are as follows:
- Commercial general contractor, level 1 $75,000.00
- Commercial general contractor, level 2 $20,000.00
- Commercial specialty contractor, level 1 $50,000.00
- Commercial specialty contractor, level 2 $20,000.00
- Commercial developer $20,000.00
The premium required for the Oregon contractor bond may be as follows:
- A $10,000 contractor surety bond may be as low as $120;
- A $15,000 contractor surety bond may be as low as $180;
- A $20,000 contractor surety bond may be as low as $240;
- A $50,000 contractor surety bond may be as low as $600;
- A $75,000 contractor surety bond may be as low as $900.
You will need to file the original bond, not a copy, in order for your license to be processed
The premium you will pay will be determined by a soft pull (which does not affect your credit score).
AmeriPro Surety Bonds will work for you to obtain the best bond pricing.
An Oregon contractor bond renews on an annual basis.
About AmeriPro Surety Bonds
AmeriPro Surety Bonds provides contractor, license and permit, court, and fiduciary surety bonds throughout Oregon.
When you call us, know that we work for you: Our goal is to find you the best premium pricing for your contractor bond.