Oregon is one of the hand full of states that requires contractors to be licensed. It is alos one of the states that require a contractor’s license surety bond, as a license requirement.
Oregon law requires anyone who works for compensation in any construction activity involving improvements to real property to be licensed with the Oregon Construction Contractors Board (CCB). This includes roofing, siding, painting, carpentry, concrete, on-site appliance repair, heating and air conditioning, home inspections, tree service, plumbing, electrical, floor covering, manufactured dwelling installations, land development and most other construction and repair services.
A CCB license is also required for:
those who purchase homes, fix them up themselves and resell them.
- material suppliers that receive compensation for installing or arranging the installation of the materials.
The general underwriting requirements of the surety companies, regardless of credit include:
• Bond amounts of $10,000, $15,000, or $20,000
• Clean license history.
• No past, present or pending claims placed on a bond
The primary underwriting tool of the surety will be the personal credit of the applicant or owner of the company. The better the credit, generally the lower the price will be for the bond.