The South Carolina Residential Builder Bond is required by the South Carolina Residential Builders Commission.
In the State of South Carolina, a “residential builder” is defined as one who constructs or superintends the construction, repair, improvement, or reimprovement of a residential building or structure which is not over three floors in height and which does not have more than sixteen units in any single apartment building. All residential builders must be licensed by the commission. As a requirement of licensure, applicants must file a bond with the South Carolina Residential Builders Commission.
The required bond amount is $15,000.
The South Carolina Residential Builder Bond states that the bond holder, or Principal, should in all respects comply with the rules and regulations pertaining to the International Residential Code and Health and Safety requirements.
The bond remains in full force and effect during the license term unless renewed by continuation certificate; however, the Surety has the right to cancel the bond at any time by filing written notice with the Commission 30 days prior to the effective cancellation date.
The South Carolina Residential Builders Commission may also consider the following when examining a license applicant:
- Financial condition
- Workers’ compensation insurance
- Other pertinent information the commission may require
All licensing fees are required by the obligee, not the Surety Company.
CLICK HERE for additional licensing information from the South Carolina Department of Labor, Licensing, and Regulation.