The Minnesota Department of Labor and Industry requires the Minnesota Technology System Contractor Bond.
The Minnesota Department of Labor and Industry requires the Technology System Contractor Bond to be in the amount of $25,000. However, the premium for this bond can be as low as $438.00 for the 2 year term. Conveniently, this bond is renewed in the same 2 year cycle as the Technology Systems Contractor License.
The Technology System Contractor Bond is essential to getting the Technology System Contractor License. The bond states that the bond holder will lawfully perform all work entered upon as a contractor. This bond will be written for the benefit of people injured or suffering financial resulting from the failure of such work.
How are the Technology System Contractor and Satellite System Contractor different?
These two licenses are very similar. They do similar work. However, the scale of the Technology Systems Contractor is much greater than the Satellite System. Technology System Contractors can install all technology systems. This includes home theaters, security and communication systems, and irrigation wiring.
Here at Surety1, we have been providing low cost bonding since 2003. To do this, we work with over a dozen different companies to ensure our prices are the lowest. We offer a free and easy to use online application to provide our customers with a fast and free quote from one of our surety experts.