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How Much Does a Contractor License Bond Cost in Oregon?
Getting an Oregon contractor license bond costs as little as $150.
An individual must have a contractor license bond to get a contractor license through the Oregon Construction Contractors Board (CCB). The full amount for this bond ranges from $15,000 to $80,000. However, contractors only need to pay a small percentage (generally 1% - 10%) of the full bond amount to get bonded.
This percentage is known as a bond premium or bond rate. The bond rate that an individual can secure is mainly based on their credit score.
|
Surety Bond Cost Based on Credit Score |
||||
|
Surety Bond Name |
Surety Bond Amount |
Over 700 |
Between 600 - 699 |
Below 599 |
|
Oregon Contractor License Bond |
$25,000 |
$250 - $750 |
$750 - $1,250 |
$1,250 - $2,500 |
An instant bond quote is generated using a soft credit check. However, you can also provide supplementary information to get a better rate. Factors that can lower your bond rate include:
- Industry experience.
- No claims made against your past bond(s).
- Statement of assets or business financials.
To get the lowest bond price, also consider the surety company you are applying with. Larger and more established sureties tend to offer the lowest rates. At JW Surety Bonds, we are able to offer the lowest bond premiums due to the large volume of bonds we underwrite.
See How to Choose the Right Surety for more information.
How to Get an Oregon Contractor License Bond
1. Figure Out Your Bond Amount
The CCB requires an Oregon contractor license bond. The required amount for this bond ranges from $15,000 to $80,000. The exact amount you need will depend on which license classification/endorsement you're applying for. See the table below for classifications and bond amounts.
If you have any questions, don't hesitate to contact our surety bonds experts. Just last month, we helped a retiree, Henry, get the right bond to start his small handyman business in Portland.
|
License Classification |
Description |
Surety Bond Amount |
|
Residential General Contractor (RGC) |
Supervise, arrange for, or perform an unlimited number of unrelated building trades involving any residential or small commercial structure or project. |
$25,000 |
|
Residential Specialty Contractor (RSC) |
Perform work involving one or two unrelated building trades for residential or small commercial projects. Alternatively, these residential contractors may perform work on a single property involving three or more unrelated building trades if the contract for labor and materials is $2,500 or less. |
$20,000 |
|
Residential Limited Contractor (RLC) |
This is for part-time contractors taking on contracts under $5,000. For example, those who build for a hobby, retirees, and handyman services. |
$15,000 |
|
Residential Developer (RD) |
Residential developers who arrange for the construction of structures, or development of property, that they intend to sell. |
$25,000 |
|
Commercial Developer (CD) |
Same as a Residential Developer (RD), but for commercial developments. |
$25,000 |
|
Commercial General Contractor Level 1 (CGC1) |
Must have 8 years of construction experience. May. supervise, arrange for, or perform an unlimited number of unrelated building trades involving any small or large commercial structure or project. |
$80,000 |
|
Commercial General Contractor Level 2 (CGC2) |
Same as CGC1, but for contractors with 4 years of construction experience. |
$25,000 |
|
Commercial Specialty Contractor Level 1 (CSC1) |
Must have 8 years of construction experience. Performs work involving one or two unrelated building trades for small or large commercial projects |
$55,000 |
|
Commercial Specialty Contractor Level 2 (CSC2) |
Same as CSC1, but for contractors with 4 years of construction experience. |
$25,000 |
|
Restricted Residential Endorsements |
Can only perform work in the specialty that their title implies. This includes:
|
$15,000 |
2. Apply for Your Contractor License Bond
Applying is quick and easy using our online bond application. Information that you will need on hand includes:
- Bond Amount (varies with license classification; see Step 1)
- Obligee Name (Oregon Construction Contractors Board)
- Contact information
- License Number (if available)
3. Purchase Your Bond
You will receive a bond quote through email once your application is processed. This usually only takes a few minutes.
To purchase your bond, log in to our website, fill out the forms, and pay your invoice. A copy of the bond will be sent via email, while the original will be sent by mail.
Oregon Contractor License Bond Requirements
Beyond the licensing bond required by the CCB, you may also need to get bonded if you:
- do certain types of contracting work
- take on jobs in specific Oregon municipalities
- are subject to disciplinary action
|
Required Bond |
Bond Amount |
|
$20,000 - $100,000 |
|
|
$25,000 |
|
|
$10,000 - $30,000 |
|
|
$3,000 |
|
|
$10,000 |
|
|
$15,000 |
|
|
$20,000 |
|
|
$20,000 - $100,000 |
|
|
$30,000 |
|
|
$10,000 |
|
|
$1,000 - $100,000 |
|
|
$5,000 |
|
|
Washington County Public Improvement Contract Performance Assurance Bond |
$1,000 - $100,000 |
|
City of Milwaukie Tree Protection Bond |
$1,000 - $100,000 |
|
City of Portland Warranty Bond |
$1,000 - $50,000 |
How to Get Your Contractor License in Oregon
To get an Oregon contractor license, apply through the CCB. For this license application you will need to do the following.
- Complete a Pre-licensing Course – the applicant or their designated Responsible Managing Individual (RMI) must complete 16 hours of training.
- Register Your Business Name – file your corporation, LLC, or assumed business name with the Oregon Secretary of State, Corporate Division.
- Get Insurance – show proof of a current public liability and property damage insurance policy. Businesses with employees also need to get Workers Compensation insurance from the Oregon Workers Compensation Division.
- Pass the Examination – this can be done by the applicant or their designated RMI.
- Get a Surety Bond – this bond varies depending on your licensing classification. There are separate bond forms for residential and commercial designations.
- Pay Your Fees – licensing fee and an examination fee.
Ready to Get Started?
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