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 New Jersey Contractor’s License Bond?
In New Jersey, depending on the county, town or municipality you work in as a contractor, their may be local codes and statues governing contractors’s license bond requirements. The State of New Jersey requires contractor’s license bonds for certain contractors to be held prior to undertaking construction services. The bond generally ensures that the contractor will comply with all required codes and laws. The State of New Jersey, or another local agency, will be named as the oblige on the bond, but a contractor’s license bond must be obtained from an insurance company licensed to write surety bonds in New Jersey that is qualified and up to date with all codes and laws. If they fail to meet these standards, the bond pays their liability.
buy essay writers account to amuse? colonialsurety. com/wp-content/uploads/2017/10/LP-nj-women-contractor-e1507212436623-300×284. png” alt=”” width=”314″ height=”297″ />Obtaining Contractor’s License Bonds for My Trade.
New Jersey requires contractor’s license bonds on a state, county, town or municipality level. Since Colonial is the insurance company, you can easily obtain a bond customized to your location’s requirements. Below are a few example of state wide requirements by trade.
- Electricians a license bond in the amount of $1000.
- HVACR a license bond in the amount of $3000.
- Plumbing a license bond in the amount of $3000.
Colonial issues these contractors license bonds, as well as all other types of contractors license bonds required by New Jersey counties, municipality and towns.
What is the process to obtain the bond?
Colonial offers one of they 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 reasonable prices and easy to obtain-so that you can run your business. You may notice with other insurance agents and middlemen companies, your premium rate will fluctuate depending on your application-but not at Colonial. We offer a flat rate for each contractor’s license bond.
Does it matter where I get my bond?
It’s important to understand how surety bonds work, and the insurance company issuing your bonds. This makes it important that you find a quality insurance company licensed in your state to write surety bonds. Colonial is an A rated Surety Company by A. M. Best that has been incorporated since 1930. We are treasury listed and licenses and admitted in all US States and territories.