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 contract bond page.
What is a Oklahoma contractor’s license bond?
In Oklahoma, depending on the county, town or municipality you work in as a contractor, there may be local codes and statues governing contractor’s license bond requirements. The State of Oklahoma requires contractor’s license bonds for certain contractors to be held prior to undertaking construction services. Contractor’s licenses bonds generally insure that the contractor will comply with all codes and laws covered by the bond. The State of Oklahoma, or another local agency, will be named as the obligee on the bond. A contractor’s license bond must be obtained from an insurance company licensed to write surety bonds in Oklahoma.
Obtaining Contractor’s License Bonds for My Trade.
Contractor’s license bonds may be required in Oklahoma 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.
- Mechanical Contractor requires a license bond in the amount of $5,000
- Electrical Contractor requires a license bond in the amount of $5000
- Plumbing Contractorre requires a license bond in the amount of $5000
- Nonresident Contractor requires a license bond in the amount of $5000