Georgia – Contractor’s License Bond

Instantly obtain a contractor's license bond

 Please note that the following information is related to contractor’s license  bonds. If you are a contractor seeking information on obtaining contract surety bid and performance bonds, please visit our

What is a Georgia contractor’s license bond?

Georgia requires a contractors license bond to be in place as a line of credit in the event of a negligent or fraudulent act that results in the damages or losses to a consumer caused by the professional. If this happens, the consumer can then file a claim against the contractors license bond and the line of credit represented by the bond will be used to pay the costs associated with the damages or loss. This bond is required to ensure protection to both the public and state. This is an assurance from the Surety to the Obligee (the entity that requires the bond) that the contractor (the Principal) will comply with all laws and regulations. In the case that the contractor fails to abide by the terms of the license and permit bond causing the third party to suffer losses they can ask for compensation from the bonding company’

 

Obtaining Contractor’s License Bonds for My Trade.

Various cities and contractor classifications in Georgia require contractors to post surety bonds prior to completing work. Applicants should verify their required bond amount with the city and/or government entity in charge of licensing and registration for their classification prior to bonding.

Bonding requirements for general and residential contractors applies to the entire state of Georgia. The following places have surety bond requirements that vary for contractors:

 

  • Bibb County
  • Cobb County
  • Columbia County
  • Dekalb County
  •  Douglasville
  •  City of East Point
  • Newton County
  • Richmond County
  • Smyrna
  • City of Valdosta

If you live in any of these locations, it’s best to contact your local authorities and inquire about bond requirements for your license type. Furthermore, water well contractors need a performance bond before they can work on projects. Some subcontractors and non-resident contractors also need to post a surety bond which will ensure their tax compliance. If you live in any of these locations, it’s best to contact your local authorities and inquire about bond requirements for your license type. Furthermore, water well contractors need a performance bond before they can work on projects. Some subcontractors and non-resident contractors also need to post a surety bond which will ensure their tax compliance.

Contractor’s license bonds may be required in New Jersey on a state, county, town or municipal level. Since Colonial is a direct and digital insurance company, you can easily obtain a bond customized to your location’s requirements. Below are a few examples of state-wide requirements by trade.

Surety bond amount with proof of Financial Responsibility Course- $10,000 surety bond for Division l or a $5,000 surety bond for Division ll. Surety bond amounts without course completion- $20,000 for Division l or $10,000 for Division ll. Class A Air Conditioning Contractor, Drywall, Division 1, Division 2, Residential Pool, Pool Servicing, Spa Servicing, Irrigation Specialty, Plumbing, Plummer, Financial Responsible Officer (Apply with the Construction Industry Licensing Board) Surety bond amount with proof of Financial Responsibility Course- $10,000 surety bond for Division l or a $5,000 surety bond for Division ll. Surety bond amounts without course completion- $20,000 for Division l or $10,000 for Division ll. Class A Air Conditioning Contractor, Drywall, Division 1, Division 2, Residential Pool, Pool Servicing, Spa Servicing, Irrigation Specialty, Plumbing, Plummer, Financial Responsible Officer (Apply with the Construction Industry Licensing Board)

What is the process to obtain the bond?

Colonial offers one of the fastest ways to obtain a contractor’s license bond. We are the insurance company — which means no agent, no broker, and no middleman. There is no turnaround time to obtain your bond. The steps are simple- get a free quote online, fill out your information, answer our underwriting questions, and enter your payment method. Your bond will be available in a PDF or original form, and always accessible to you online. It’s that simple!

What Do Contractor’s License Bonds Cost?

Contractor’s license bonds are reasonably priced and easy to obtain — so that you can run your business. You may notice that with other insurance agents and middlemen companies, your premium rate will fluctuate and include additional hidden fees and costs. Not at Colonial. We offer a flat rate for each contractor’s license bond.

Does it matter where I get my bond?

It is important to understand how surety bonds work, and who is the insurance company issuing your bonds. It is easy to run your business when you deal direct with a quality insurance company licensed in New Jersey to write surety bonds. Colonial is an A (Excellent) rated insurance company by A. M. Best, that has been incorporated since 1930. We are Treasury listed, and licensed and admitted in all U. S. states and territories. http://sos. ga. Only then https://essaydragon.com can the real work of getting published begin. gov/index. php/licensing

.