The State of Oregon requires almost all contractors in the state to maintain a valid license. As part of the license requirement, a surety bond is required, in varying amounts, depending on the type of commercial contractor and the volume of worked performed. The types of Oregon Commercial Contractor License Bonds as follows:
- Commercial General Contractor Level 1 (CGC-1) $75,000 Bond
- Commercial General Contractor Level 2 (CGC-2) $20,000 Bond
- Commercial Specialty Contractor Level 1 (CSC-1) $50,000 Bond
- Commercial Specialty Contractor Level 2 (CSC-2) $20,000 bond**
No credit check on the $20,000 bond. (Subject to approval of the underwriting surety company.)
All Oregon Contractor’s License Bonds are increasing by $5,000 effective January 1, 2024. This change was enacted by House Bill 2922, which was passed by the Oregon Legislature in 2023. The bill aims to provide better protection for consumers by increasing the amount of financial recourse available in the event that a contractor fails to fulfill their obligations.
For more information about license types, visit the Oregon Contractors License Board.
In most cases, Surety1 can provide a firm quote on the same day the bond is applied for. To obtain a firm quote for the bond, all Surety1.com needs is a competed application.
Other Types of Oregon Contractor’s License Bonds
There are eight different classifications of licenses in Oregon. To see which on you need, click on the link below for a brief description.
How to apply for a Oregon Commercial Contractor License Bond
At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:
- Complete the easy to navigate and secure online application. 1
- Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day.
- Sign some paperwork and pay the bond premium
Once these steps have been completed, the Oregon Commercial Contractor License Bond will be shipped to the bond principal (licensee).
1- The name of the applicant on the surety bond application must match exactly the full legal business name of applicant for the license.
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. With an A+ rating from the better business bureau and licensed in all 50 states, Surety1 can handle all of your bonding needs. Performance and Payment bonds are also available.