How Much Does a Contractor Bond Cost in Oregon?
Bonds up to $20,000
1-Year Bond Starts at $100.00
0.95% of the Bond Amount
$20,000 Bond
1-Year Bond
$50,000 Bond
Multi-Year Options May be Available
$75,000 Bond
Multi-Year Options May be Available
Bonds up to $25,000
1-Year Bond Starts at $100.00
1% of the Bond Amount
2-Year Bond Starts at $175.00
1.75% of the Bond Amount
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What Does a Contractor 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.
Getting Your Oregon Business License or Registration
Steps to get licensed:
- Determine the types of structures you will work on. This indicates what type of license endorsement you will need.
- Complete pre-license training and take the test. Select a Responsible Managing Individual to complete the prerequisite training and test.
- File your corporation, LLC, and/or assumed business name with the Oregon Secretary of State, Corporation Division or call 503-986-2200.
- Submit a CCB surety bond in the required amount(s).
- Obtain and provide proof of general liability insurance in the required amount.
- Purchase workers’ compensation insurance as required if you will be hiring employees.
- Obtain other employer account numbers such as state and federal tax numbers (as required).
- Complete the application that corresponds with your endorsement (Residential only, Commercial only, Both residential and commercial (dual)).
- Submit your application with your original bond, insurance certificate, and two-year license fee.
- 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.
Other Helpful Information and Links
Oregon Contractors Surety Bond Information
Oregon Construction Contractors Board
What are the CCB Bonding Requirements?
- The original official bond from Surety Bonds Direct must accompany the application. The CCB cannot accept copies of bonds and submitting copies may delay your licensing process.
- Surety Bonds Direct will issue and complete your bond on the appropriate CCB bond form. We also provide a money back guarantee that your bond will be accepted by the CCB.
- The bonds must be issued in the full legal name of the sole proprietor; all partners full legal names in a partnership or joint venture (JV); the full legal names of all partners in an LLP and the name of the LLP; the name of the corporation, LLC or trust. JV’s, LLP’s, Corp’s, LLC’s and trusts must match the name filed at the Oregon Corporation Division.
- Limited partnerships should contact the CCB at 503-378-4621 for special instructions.
- Surety Bonds Direct will provide the original signature of the bond company’s attorney-in-fact If a power of attorney form is attached to the bond, do not remove it.
- The bond is not valid until it is submitted to and is put into effect by the CCB. The bond must be submitted to the CCB no later than 60 days from the date the bond was signed by the bond company or it is no longer valid.
- All bonds must be continuous until canceled.
What are the Required Bond Amounts by Contractor Type?
Residential bonds
- Residential general contractor: $20,000
- Residential specialty contractor: $15,000
- Residential limited contractor: $10,000
- Residential developer: $20,000
- Home services contractor: $10,000
- Residential locksmith services contractor: $10,000
- Home inspector services contractor: $10,000
- Home performance score contractor: $10,000
Commercial bonds
- Commercial General Contractor Level 1: $75,000
- Commercial General Contractor Level 2: $20,000
- Commercial Specialty Contractor Level 1: $50,000
- Commercial Specialty Contractor Level 2: $20,000
- Commercial Developer: $20,000