Previously in this blog we covered the contractor’s license bond requirement for residential contractors. (CLICK HERE TO SEE POST) Today we will talk about the Contractor’s License bond requirement for commercial contractors.
There 5 categories of commercial contractor in Oregon. Therese are:
- Commercial General Contractor, Level 1 (CGC-1) – $75,000 Surety Bond
- Commercial General Contractor, Level 2 (CGC-2) – $20,000 ” “
- Commercial Specialty Contractor, Level 1 (CSC-1) – $50,000 ” “
- Commercial Specialty Contractor, Level 2 (CSC-2) – $20,000 ” “
- Commercial Developer (CD) $20,000 Surety Bond
A general contractor is defined by the Oregon CCB as:
- A contractor that supervises or performs any number of unrelated businesses or trades. (Prime Contractor)
A specialty contractor is
- A contractor who performs only two or fewer unrelated building trades or crafts (“subcontractor”)
The Level 1 versus level 2 contractor is relative only to the dollar value of the contracts undertaken. this applies to both the General Contractor and Specialty Contractor licenses.
Surety1 offers great rates and fast service for all Oregon Contractors License Bonds.