How much does a construction contractor bond cost in Alaska?
The Alaska Department of Commerce, Community and Economic Development’s Division of Corporations and Business and Professional Licensing requires the following of construction contractors:
- Contractors whose work on one project with an aggregate contract price of $10,000 or less must post $5,000 bonds.
- Mechanical contractors, specialty contractors, and home inspectors must post $10,000 bonds.
- General residential contractors must post $20,000 bonds.
- General contractors must post $25,000 bonds.
Alaska contractor license bonds are subject to underwriting, so the amount you’ll pay for your bond depends on your required bond amount, as well as on a review of your personal credit report. Bad credit? Don’t worry! Our experts have a history of helping 99% of applicants get approved for the bonds they need quickly and easily.
SuretyBonds.com can help ensure that you remain in compliance with the state’s updated bond requirements. Give us a call at 1 (800) 308-4358 or fill out an online bond request, and our team of experts will help you get the bond you need quickly for the lowest available rate.
| Bond Type | Bond Amount | Cost* | |
|---|---|---|---|
| $5,000 Contractor License Bond Handyman; Working on projects with aggregate contract price of $10,000 or less | $5,000 | Starts at $75 | GET A QUOTE |
| $10,000 Contractor License Bond Mechanical contractor or specialty contractor | $10,000 | Starts at $100 | GET A QUOTE |
| $20,000 Contractor License Bond General contractor performing exclusively residential work | $20,000 | Starts at $200 | GET A QUOTE |
| $25,000 Contractor License Bond General contractor | $25,000 | Starts at $250 | GET A QUOTE |
Why do I need a construction contractor bond in Alaska?
Obtaining a construction contractor bond in Alaska is a required step to becoming a licensed and registered construction contractor who ensures ethical business practices. Alaska requires the following professionals to be bonded:
- general contractors
- general contractors with residential contractor endorsements
- mechanical contractors
- specialty contractors
- home inspectors
- contractors whose work on one project with an aggregate contract price of $10,000 or less
Construction contractor bonds in Alaska are put in place to ensure that contractors (principals) comply with all rules and regulations of AS 08.18, including paying all taxes and contributions due to the state and political subdivisions of the state and paying all persons who provide labor, materials, and/or equipment to the principal.
If a contractor performs negligent or improper work or fails to adhere to the letter of the law and the terms of the surety contract, the bond protects the state from resulting financial losses up to the full amount of the bond.
You’ll receive a free, personalized quote on an Alaska construction contractor bond within one business day of applying when you work with the experts at SuretyBonds.com!
Need a surety bond for a construction project?
Payment bonds and performance bonds are often required for specific construction projects. No matter the state, SuretyBonds.com can get you the bond you need for your next job.
How to become a licensed construction contractor in Alaska
It is illegal to act as a construction contractor in Alaska without being licensed to do so. The following fees and documents must be submitted to the department when applying for licensure:
- A completed, signed, and notarized application form
- Proof of liability insurance
- Proof of worker’s compensation coverage
- $100 application fee
- $250 license fee
- Residential endorsement
- Specialty trades list
- Business license from Professional Licensing Services
Note: As of 2019, worker/s compensation is required for all employees of a business entity, including executive officers of corporation or a limited liability company in Alaska. Current holders of a construction contractor’s license in the state should contact their insurance providers to include all officers and owners under their worker’s compensation coverage.
Take the first step toward becoming licensed in Alaska by purchasing the surety bond you need!
Considerations for Alaska construction contractor bonds
Alaska construction contractor bonds are continuous until terminated or otherwise revoked by the Department of Commerce, Community, and Economic Development. The surety can cancel the bond by giving written notice of cancellation to the department. Cancellation becomes effective 30 days after the surety sends the notice.
For more information regarding construction contractor bonds in Alaska, contact:
General, Specialty, Mechanical and Handyman Contractors
Email: [email protected]
Phone: (907) 465-2050
Residential Contractors
Email: [email protected]
Phone: (907) 465-8443
General Inquiries
Email: [email protected]
Phone: (907) 465-2050
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Additional Resources
Surety Bond Insider: Alaska updates surety bond requirements for construction contractors
State of Alaska Construction Contractor Forms and Applications
Customers Nationwide