In addition to a more in-depth article on the requirements for a Nevada contractor surety bond, written by AmeriPro Surety Bonds, the state of Nevada further divides contractor licensing into subdivisions.
Of these subcontractor divisions, those who wish to obtain a Nevada contract pool and spa license are required to obtain an additional surety bond.
This surety bond is in addition to the one required for the basic Nevada contractor license.
Once an application is complete and approved by the Nevada State Contractor License, they will then determine the amount of the surety bond required.
That surety bond amount required may be anywhere between:
The amount will be determined by the applicant’s financials, character, and other criteria determined by the state licensing board.
In addition to the license above, contractors who are licensed to install residential pools and spas in Nevada are required to obtain an additional surety bond.
The Nevada contractor license Pool and Spa bond will have a minimum surety bond amount of
To an amount of
$400,000, and possibly higher.
The amount of the surety bond, again, will be determined by the Nevada State Contractor licensing board.
Although the amount of the Nevada contractor pool and spa surety bond can range upwards of $400,000, applicants will only pay a small percentage of this bond, also known as the premium amount.
The premium amount will be determined by the following criteria:
The face amount of the surety bond (i.e. is the bond amount for $10,000 or $100,000?)
The applicant’s credit score.
Premium amounts which meet a certain threshold (usually above $1000) may qualify for a payment plan to help make the payment amounts easier, if this is needed.
The Board may require an applicant for a Nevada contractor pool and spa contractor license to obtain a performance bond.
If required, this bond has the following characteristics:
If a payment surety bond is also required, that bond insures that all subcontractors, and all suppliers and laborers will be paid for any work by the Nevada licensed contractor.
The bond is solely for their protection.
Fortunately, applicants will be told by the Nevada Board exactly which bond amounts are required and how much.
Once that has been determined, AmeriPro Surety Bonds will work to provide your contracting company with the best surety bond pricing available.
AmeriPro Surety Bonds provides all types of contractor surety bonds in Nevada.
We also provide Nevada court surety bonds, commercial, notary and fiduciary bonds in Nevada and all 50 states.