Utah Contractor License Bonds
Utah Contractor License Bond Information
A Contractor's License Bond is required by the State of Utah Department of Commerce Division of Occupational and Professional Licensing for those obtaining licenses to do business as contractors under the provisions of the Utah Constructions Trades Licensing Act. The bond guarantees regulation and control of the business of contracting, as provided by Utah Code Ann. Title 58, Chapter 55, and indemnifies any or entity for losses occurring as the result of the principal's violation of any of the unlawful or unprofessional conduct provisions of Utah Code Ann. Title 58, Chapters 1 and 55.
The bonded contractor's failure to pay its obligations or income taxes and self employment taxes on payments or any law pertaining to commerce in contracting by a licensing or regulating authority. Counties and local municipalities in Utah also have various requirements for contractors to post surety bonds for local license and permits requirements. These include; Bountiful, Cottonwood, Mt Olympus, Murray, Provo, Salt Lake, and Sandy. Surety Bonds Direct is authorized to issue all types of Utah Contractor Bonds.
See our Spotlight article for more on Contractor License Bonds. If this bond is for a job that you are bidding or a contract that has been awarded to you, the surety bond you need is a Contract/Construction Bond rather than a Contractor License Bond.
How Much Does a Contractor Bond Cost in Utah?
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