Building contractors working in New Castle County Delaware are required to be bonded in an amount determined by their contracting classification.
Going in ascending order, the surety bond amounts are as follows:
Your surety bond renews on January 1st of the following year from its issuance. The premiums we quote assume a full annual term; however, the amount may be prorated depending on your date of purchase.
Applicants for Class C, $25,000 and Class B, $50,000 contractor bond amounts are automatically approved. There is no credit check for Class C or Class B. The premium is just 1%, which amounts to $250, and $500 respectively, for a full annual term.
When you call us, we’ll just ask you the name as it should appear on your contractor surety bond, along with your address, phone number, and email. We’ll also ask you your title (i.e. owner, president, etc.)
After payment of the premium, our agency issues your bond to you immediately.
Class A and Class U Applicants
Applicants for Class A or Class U will need to complete a short surety bond application, and undergo a credit score review. Good credit is required for approval. Approval rates are at the following premium amounts:
While your surety bond is for a one year term January 1 – January 1, our agency offers you the option to prepay your bond’s premium up to 3 years. Premium prepayment saves you over annual renewals, besides lengthening the time between renews.
The Class, surety amounts, premiums, and monetary savings are as follows:
---Class A, $150,000 surety bond---
---Class B, $50,000 surety bond---
---Class C, $25,000 surety bond---
---Class U, $200,00 surety bond---
The purpose of this contractor surety bond requirement is to serve as a financial guarantee of your compliance with all laws and regulations governing your building contractor profession. The surety bond protects the New Castle County from any harm caused to any employees, officers, administrators, by a bonded contractor.
The bond is also a financial guarantee of your payment of all fees and penalties assessed by the County.
AmeriPro Surety Bonds provides contractor license and permit surety bonds nationwide. Our agency is also a provider of hundred of other license and permit, court, and probate bonds.
We provide surety bonding in all 50 states.
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