Nevada Contractor’s License Surety Bond Requirement

You hear it all the time, “I was scammed,” “the contractor never finished the work,” “they didn’t do the work that I contracted him to do,” and other stories of contractors gone bad. Because of these situations, many states require a contractor to be licensed, and in some cases, secure a surety bond which often ensures the duties in a contract.

Home owners in Nevada that need repairs or home improvements should cautiously seek out reputable licensed contractors before making any payments or deposits to begin work. Homeowners should obtain bids or quotes, check references and check the state’s contractor license lookup  to ensure that the contractor has a valid license and to see if there have been any disciplinary actions.

Contractors in Nevada are required to be licensed and obtain a surety bond in an amount that ranges from $1,000 to $500,000 based on the type of license being issued, character of the contractor, financial stability of the contractor, experience in the industry, and the amount of the projects the contractor plans to undertake.  The Nevada State Contractor’s Board will determine the bond amount that will be required, or a contractor may opt to make a cash deposit instead of a surety bond.  (The Board has additional surety bond requirements for residential pool and spa contractors.)

The surety bond is a guarantee that the contractor will fulfill his or her duties in contractual agreements, as well as fulfill the labor and supplier obligations and maintain a safe work environment on the job site.  If a claim is made against the bond or cash deposit by any person with a valid reason to do so, and if the contractor is found at fault, a claim may be paid by the surety or from the cash deposit.  If the surety pays the claim, the contractor must pay the surety company back.

Nevada contractors can get the surety bond they need to meet the Nevada State Contractors Board license requirement from SuretyGroup.com.  We offer free, no-obligation quotes, low rates and fast service. Email info@suretygroup.comapply online or call us today at 1‑844‑432‑6637.

 

SuretyGroup.com – Your Online Bond Provider.

Great Rates. Solid Advice. Quick Solutions.

 

Nashville Contractors Need Permit Surety Bonds

Building a Growing City

Nashville, Tennessee is one of the fastest growing cities in the country.  Contractors around Davidson County are working hard to keep up with the demand of new residents. New construction is going up just about everywhere you look, and old buildings are getting rehabbed into new life.

All this activity means that the city is busy issuing permits to all types of contractors. The Metropolitan Government of Nashville and Davidson County requires many contractors to be licensed, bonded and insured. When a bond is required, it must be secured before a permit or license can be issued.

The bond ensures that a contractor complies with all codes, laws and ordinances of the Metropolitan Government.

Davidson County Permit Surety Bond Amounts

Building contractors in Nashville and Davidson county with projects under $25,000 need to obtain a $10,000 surety bond before they can get a building permit. Projects over $25,000 require a $40,000 surety bond.

$40,000 surety bonds are also mandatory for electrical, gas/mechanical, plumbing, excavation and house moving contractors.

Blasting contractors have a minimum permit surety bond requirement of $10,000.

SuretyGroup.com helps get your business bonded. Call our Surety Bond Specialists at 1‑844‑432‑6637  for a free, no-obligation quote, great rates and fast service.  You may also email us at info@suretygroup.com, or apply online at SuretyGroup.com.

 

SuretyGroup.com – Your Online Bond Provider.

Great Rates. Solid Advice. Quick Solutions.