North Carolina Contractor’s Bond

The North Carolina Licensing Board for General Contractors issues licenses for various levels of construction work. These licenses have minimum net worth requirements however, contractors can use a North Carolina Contractor’s Bond in lieu of meeting these requirements. The bond amount varies (see below) and the cost of the surety bond is usually between 1% and 3% of the bond amount. Surety1 will shop its many markets to procure the right price at the right terms.

How to Get a North Carolina Contractor’s Bond

At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:

1. Complete the easy to navigate and secure online application. ¹
2. Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day. ²
3. Sign some paperwork and pay the bond premium

Once these steps have been completed, the North Carolina Contractor’s Bond will be shipped to the bond applicant.
^{1 -The name of the applicant on the surety bond application must match exactly the full legal business name of applicant for the license.
2- Subject to underwriter approval, based on aggregate surety bond exposure, additional underwriting information may be required}

Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003.

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Who needs to have a North Carolina Contractor’s License

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?

If you choose not to meet the minimum net worth requirement, the bond amounts are as follows:

• 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