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Washington State Contractor License Bond

The Washington Department of Labor and Industry requires all contractors to be bonded to get a Washington contractor license. This means you must purchase a surety bond called a contractor license bond. This short video will explain what a Washington contractor license bond is and how it's priced. Plus I'll share actual pricing to you can get an exact idea of what you will pay.

Video Timestamps:

  • 00:15 - Video agenda
  • 00:29 - Two main Washington license classifications
  • 01:08 - What is a contractor license bond?
  • 01:11 - What is a surety bond at a high level?
  • 01:45 - How can a contractor get in trouble
  • 02:10 - How a contractor bond price is determined
  • 02:21 - Factors that determine a surety bond price
  • 02:36 - Why choose to work with a specialized surety agency
  • 02:57 - Classifications with a fixed bond price
  • 03:18 - Actual pricing for fixed contractor bonds
  • 03:25 - Electrical / Telecommunication contractor pricing
  • 03:36 - Farm Labor contractor pricing
  • 03:50 - County and/or city contractor bond pricing
  • 04:04 - Contractor bonds requiring a custom price quote
  • 04:21 - List of bond amounts for contractor license bonds
  • 04:50 - Rate and price examples for a quoted rate surety bond
  • 05:02 - Renewing your contractor license bond
  • 05:27 - What is a continuous bond

 
 

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