The Delaware Contractor’s License Surety Bond is required for Delaware non-resident contractors looking to obtain a DE Contractor’s License. The bond is to protect your clients from any harm or wrongdoing by your company. If there is a claim placed on your bond and you are found at fault, the surety company will pay out. However, unlike insurance, you will have to pay the surety company back.
Surety1 has access to the best surety markets available so we will be able to get you bonded quickly at the lowest possible price!
What are the requirements in order to get a contractor’s license in Delaware?
In order to apply for your Delaware Contractor’s License, whether you are resident or non-resident, you will have to submit the following requirements to the Delaware Division of Revenue:
- A completed application form
- Provide evidence of insurance to pay Workmen’s Compensation
- File form 1280- this is a statement of payments made by general contractors to subcontractors
- File form 5060- this is a statement of the total value of any contract or subcontract entered into with a non-resident of the State of Delaware within ten (10) days of entering into such contracts
Non-Resident Contractors are required to obtain a Delaware Contractor’s License Surety Bond equal to six percent (6%) of the contract amount for all single contracts/subcontracts exceeding $20,000 or when the aggregate of two or more contracts/subcontracts in a calendar year total $20,000 or more.
You can read more about the licensing requirements and regulations here.
Where can I get a Delaware Contractor’s License Surety Bond?
Simply fill out our free online application! One of our licensed agents will contact you with a no-obligation quote within one business day of your submission. Once any necessary paperwork is signed, and the premium payment is remitted, your Delaware Contractor’s License Surety Bond will be shipped to you via USPS Priority Mail, with overnight shipping options also available.
Surety1 has been writing bonds in Delaware since 2003, so we understand the process and the need for fast, reliable service. We even maintain an A+ rating by the Better Business Bureau! Licensed in all 50 states.