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Oregon Contractor License Bond

Oregon Contractor License Bond

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Who Requires the Contractor License Bond and Why Is It Needed?

Builder. Contractor License Bond for licensed contractors to ensure compliance with state or local regulations and statutes.

Contractor license bonds are surety bonds required of all state licensed contractors by the Oregon Construction Contractors Board (CCB). The bond amount varies from $10,000 to $20,000 for residential contractors and $20,000 to $75,000 for commercial contractors. See table below for specific surety bond amounts required based on contractor type and license classification.

How Much Will My Surety Bond Cost?

Surety Bonds Direct offers Oregon Contractor License Bonds completely online without a credit check or any paperwork. Going direct is that easy!

If you are interested in spreading out the cost of your bond over time, we can offer convenient financing plans for many types of surety bonds. More information will be provided with your quote.

What Does the Bond Protect Against?

The surety bond guarantees that contractors comply with the Oregon Revised Statutes. In the event that the contractor’s non-compliance results in third party damages, a claim may be filed against the bond. A property owner is entitled to file a CCB complaint against a contractor for improper work or breach of contract. The CCB may then direct the contractor to reimburse the property owner for damages for a valid complaint. If the contractor does not do so, the bonding company is obligated to pay the funds due to the property owner, up to the amount of the bond. The contractor is legally obligated to indemnify the surety for any losses as defined in the indemnity section of the surety bond application.

 

What is Needed to Obtain My License?

Steps to get licensed:

  1. Determine the types of structures you will work on. This indicates what type of license endorsement you will need.
  2. Complete pre-license training and take the test. Select a Responsible Managing Individual to complete the prerequisite training and test.
  3. File your corporation, LLC, and/or assumed business name with the Oregon Secretary of State, Corporation Division or call 503-986-2200.
  4. Submit a CCB surety bond in the required amount(s).
  5. Obtain and provide proof of general liability insurance in the required amount.
  6. Purchase workers’ compensation insurance as required if you will be hiring employees.
  7. Obtain other employer account numbers such as state and federal tax numbers (as required).
  8. Complete the application that corresponds with your endorsement (Residential only, Commercial only, Both residential and commercial (dual)?).
  9. Submit your application with ?your original bond, insurance certificate, and two-year license fee.
  10. Additional items may be needed and exact requirements may vary based on applicant, license type or obligee discretion. Please see obligee and state links in the Other Helpful Information and Links section below or contact the obligee directly for more information.




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