North Carolina requires a Contractor’s Bond for those who wish to practice General Contracting in the state. The bond is for the benefit of any person who is damaged by an act or omission of the bondholder. Included are: breach of construction contract; breach of a contract for the furnishing of labor, materials, or professional services.
Who needs to have a North Carolina Contractor’s Bond?
The Contractor’s bond is required when applying for a General Contractor’s license. The license is required for those who bid on, construct, superintend or manage the construction of any building, highway, public utilities, grading or improvement of a structure costing $30,000 or more.
What is the bond amount?
- Limited License: $175,000 Surety Bond
- Valid for individual projects up to $500,000 each
- Intermediate License: $500,000 Surety Bond
- Valid for individual projects up to $1,000,000 each
- Unlimited License: $1,000,000 Surety Bond
- Valid for individual projects of any size
What are other Licensing Requirements?
- Application form
- Copies of the Articles of Organization, Articles of Incorporation, or Certificate of Authority
- Passage of the exam
- Financial statements
- Payment of license fees:
- $75 for limited
- $100 for intermediate
- $125 for unlimited
How do I obtain a North Carolina Contractor’s Bond?
First, start the process by completing our easy to navigate, free online application form. Then, after your application has been submitted, one of our surety agents will contact you with a no-obligation quote on the bond premium. After that, once you are ready to move forward, you just need to pay the premium and sign the agreement. Lastly, your North Carolina Contractor’s License bond will be mailed to you by USPS Priority Mail. Overnight delivery is also available for an additional fee.
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