Commercial General Contractor
This bond is for contractors who construct, alter, and repair any commercial property or supervise subcontractors performing work on a property. The bond amount is based on filed gross receipts.
- Bond amounts:
- $15,000 based on gross receipts over $150,000, not more than $500,000
- $25,000 based on gross receipts over $500,000, not more than $1M
- $50,000 based on gross receipts over $1M, not more than $5M
- $75,000 based on gross receipts over $5M, not more than $10M
- $100,000 based on gross receipts over $10M
- 5% - 10% of the total cost - $50 minimum premium
- Pricing increases based on the bond amount
- Purchase two years to align with license renewal
- Multi-year options carry a 25% discount
- Based on personal credit
Commercial Specialty Contractor
This is for contractors engaging in contract work related to their specialty classification(s) on a commercial property. The bond amount is based on filed gross receipts and license type.
- Bond amounts:
- $7,000 based on gross receipts over $150,000, not more than $500,000
- $17,500 based on gross receipts over $500,000, not more than $1M
- $25,000 based on gross receipts over $1M, not more than $5M
- $37,500 based on gross receipts over $5M, not more than $10M
- $50,000 based on gross receipts over $10M
- 5% - 10% of the total cost - $100 minimum premium
- Pricing increases based on the bond amount
- Purchase two years to align with license renewal
- Multi-year options carry a 25% discount
- Based on personal credit