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Nevada Contractor License Bond

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What is a Nevada Contractor License Bond?

Any contractor working in Nevada must comply with the Nevada State Contractors Board and obtain a valid license to do business. Part of the licensing process is posting a Nevada contractor license bond which works as a form of security for customers. If a contractor misuses funds, does not keep financial records, or violates state or local building codes, a claim can be made against a Nevada contractor license bond.

Like other surety bonds, a Nevada contractor license bond is an agreement between three parties: the principal who is required to obtain the bond, the obligee which is the state authority responsible for overseeing licensing requirements, and the surety company providing the bond.

What Does a Nevada Contractor License Bond Cost?

Several factors determine how much a Nevada contractor license bond will cost, including the type of contractor license you hold and the financial stability of your business. The bond amount you need also plays a role, and this can range significantly depending on your business. Nevada contractors may be required to post a bond between $1,000 up to $500,000, but this is not the price you pay to get bonded.

A Nevada contractor license bond costs only a fraction of the total bond put in place. You are charged a percentage of the bond, known as the bond premium, that ranges from 1 to 10%. The surety company providing your Nevada contractor license bond reviews your personal credit score, experience in the industry, and business financials to determine the rate you pay. Bad credit results in a higher bond premium because you may be a greater risk to the surety company when it comes to future claims.

How Do I Get a Nevada Contractor License Bond?

Obtaining the Nevada contractor license bond you need begins with submitting an application and request for a bond quote. You can complete this process online quickly, and receive the exact pricing of your bond after the surety company reviews your application details.

Frequent Questions

How much does a bond cost?

Pricing is a percentage of the contractor license bond amount that’s required of you, which is based on your personal credit. Use our bond pricing tool to to get a quick ballpark estimate.

Can I get bonded with bad credit?

Yes. You can apply and get bonded with bad credit. Our agency is the largest writer of bonds in the county, which allows us to approve contractors for bonds when other agencies cannot.

Are these the same as contract bonds?

No. Contractor license bonds ensure you will abide by the laws of your state, city or municipality when performing contracting work. Contract bonds guarantee public projects will be completed properly and are a separate bond type. You can learn more about contract surety bonds by visiting the contractor bond center.

Do I need a state or local bond?

It depends on who is requiring the bond of you, the local municipality, county or state. Depending on your location, it is possible you may need both a local and state bond, as contractor license bond requirements can vary drastically. You can select your state to see a full list of contractor license bond requirements.

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Jennifer Henson
Our company has been with JW Surety for several years now so when we needed to obtain a bond for a new company, we immediately went to them for help. Our rep, Melissa, was extremely helpful and prompt which made the process extremely easy for me.
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Trying to get a local Surety Bond was like driving a car on three tires. I searched Surety Bonds and found JW Surety Bonds. I got online and filled out the information and with in 30 minutes received a response from Melissa. She was informative, friendly and helpful. One more super satisfied customer.

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