An Oregon Contractor – Commercial Specialty License Bond is a type of surety bond required by the Oregon Construction Contractors Board (CCB) for contractors who perform specific types of construction work on commercial projects. It acts as a safety net for clients, protecting them from financial losses if the contractor fails to meet their contractual obligations or violates state regulations. Click Here to Apply
Any contractor who performs commercial specialty work in Oregon must obtain the appropriate license and bond. Commercial specialty work includes a wide range of activities, such as electrical, plumbing, mechanical, roofing, and more. You can find a complete list of specialty classifications on the CCB website: https://www.oregon.gov/ccb/pages/default.aspx.
The bond amount for a Commercial Specialty License Bond depends on the level of the license. There are two levels:
- Level 1: Requires a bond of $55,000. This level is for contractors who work on projects with a total value exceeding $500,000.
- Level 2: Requires a bond of $25,000. This level is for contractors who work on projects with a total value of $500,000 or less.
No credit required for bond amounts up to $25,000.
The cost of the Oregon Contractor – Commercial Specialty License Bond is usually between 1% and 3% of the bond amount, subject to a minimum premium and fees of $150. Surety1 will shop its many markets to procure the right price at the right terms.
How to Get an Oregon Contractor – Commercial Specialty 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 Surety 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.
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.
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.