Minnesota Elevator Contractor Bond |
AmeriPro Surety Bonds | 844-589-9732
Elevator Contractors – Minnesota
Elevators contractors in Minnesota are also referred to as “limited elevator contractors”. Such contractors are licensed and regulate by the state’s Department of Labor and Industry. The Department provides guidelines for rules and licensing.
Our agency provides you the required surety bond. Fortunately, this requirement can be satisfied immediately; by that is meant within a matter of a few minutes.
Amount of Surety Bond – Qualifying – Premium
The Minnesota elevator contractor bond is a $25,000 surety bond that is required by the Department.
Qualifying for this surety bond is by completing a surety bond application (which can be done over the phone with an agent). Once the application is paid and the annual premium of $375 is made, this bond issued to you immediately.
A copy of the bond can be sent to you, and a the original will follow in the mail by the same or the following business day.
The elevator contractor bond is active for one year from the date of issuance, and thereafter the bond must be renewed.
An active, current surety bond must remain on file as a condition of licensing with the state of Minnesota.
Purpose of the Surety Bond Requirement
As stated directly on the bond form, the purpose of your elevator contractor bond is to ensure your compliance with Minnesota Statutes Section 326B and Chapter 1307, as also any amendments.
The Department also provides a number for consumers to verify the existence and current status of your surety bond.
As principal of this bond, you are responsible to indemnify, if such were to occur, the surety for any claims paid against your surety bond.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit surety bonds throughout Minnesota.
Our agency also provides surety bonds nationwide.
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