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contractor

Become a Contractor in North Carolina

To get started on your contractor license, you must evaluate the type of work you perform:
If you are an independent contractor, you may request a license packet to be sent from the North Carolina Licensing Board for General Contractors. The cost of the application is $15.00. Call (919) 571-4183 to get in touch with NCLB in the event of questions or concerns about the application …

 

Oregon Contractor’s License

Contractor Regulations in Oregon:
Anyone working in the construction industry profiting from improvements on real property need to be licensed with the Construction Contractors Board. The steps outlined on the CCB website provide the following requirements.

You will need to determine what kind of contractor’s license endorsement you need. The license varies depending on the type of contractor work you …

 

Finding a Surety Bond Producer

Finding a Surety Bond Producer

Since private work is not expected to rejuvenate itself in the near future, you’ve decided to enter the public work arena to supplement revenues.  It’s a great decision, where to begin?  The construction isn’t different; it’s the process of becoming qualified for public work that often stumps contractors starting to bid on public projects.  
The best place to start …

 

Why have Surety Bonds in Construction?

Why have Surety Bonds in Construction?

Surety bonds are becoming ever more important in today’s challenging times.  Surety bonds are currently classified as insurance products even though they are more similar to credit institutions.  The current climate has created some large surety losses, which is causing many surety companies to tighten up their underwriting requirements.   Surety companies underwrite bonds expecting to have zero losses, surety bonds …

 

The Surety Perspective of Bond Ability Letters

The Surety Perspective of Bond Ability Letters

There are several reasons why the Letters of Bondability do not satisfy the intent of the owner or obligee.  First we must look at the letter from the perspective of the surety.   Prequalification of the contractor is one of the major elements of a performance bond.  It has the same relationship as lumber has to a carpenter.  When project owners …

 

What does the Bondability letter accomplish?

What does the Bondability letter accomplish?

The letter of bondability at best shows a perspective owner that the contractor has a relationship with the surety company. Frustrated obligees have sued sureties over the letters because they would not furnish the bond later to no avail.
The following is an excerpt from a letter:
If Contractor is the successful proposer and is required to provide performance and/or payment …