Date Published: November 24, 2023

All Oregon contractor’s license bond amounts increase 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.

Here is a table of the new bond amounts for Oregon contractors:

Contractor Type Current Bond Amount New Bond Amount
Residential General Contractor $20,000 $25,000
Residential Specialty Contractor $10,000 $15,000
Commercial General Contractor $30,000 $35,000
Commercial Specialty Contractor $15,000 $20,000
Public Works General Contractor $40,000 $45,000
Public Works Specialty Contractor $20,000 $25,000

Contractors who are currently licensed with the Construction Contractors Board (CCB) will be notified of the bond increase and will be required to purchase a new bond with the increased amount by January 1, 2024. NewOregon contractor license bonds are increasing by $5,000 applicants for a contractor license will also be required to purchase a bond with the increased amount.

The CCB has partnered with the surety bond industry to make the bond increase process as smooth as possible for contractors. Many surety companies have committed to automatically updating the bond amount for their clients with the CCB. Contractors who have not heard from their surety company by January 1, 2024, should contact the CCB to ensure that they are in compliance with the new bond requirement.

For more information on the Oregon contractor license bond increase, please visit the CCB website or contact the CCB at 1-800-247-9287.

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Oregon contractor license bonds are increasing by $5,000

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