Alaska Professional Licensing Bond Overview
- Purpose: To ensure licensees uphold state regulations
- Who Needs It: Contractors, collection agencies, concert promoters, handy persons, hearing aid dealers and home inspectors in Alaska
- Regulating Body: The Department of Commerce, Community, and Economic Development (DCCED)
- Required Coverage: $5,000–$25,000
- Minimum Price: $75 for $5,000 coverage, $200 for $10,000 coverage
If you’re applying for a professional license in Alaska, you’ll likely need this surety bond. Read on to learn about coverage requirements and how to get one.
What Is an Alaska Professional Licensing Bond?
You’ll need to file a surety bond with the Alaska DCCED’s Division of Corporations, Business and Professional Licensing (CBPL) if you’re applying for any the following licenses:
- Collection Agency
- Concert Promoter
- Hearing Aid Dealer
- Home Inspector
- Handyman
- General, Specialty, Residential or Mechanical Contractor
This bond is a financial guarantee that you’ll uphold the terms of your license and operate ethically.
What Type of Contractor License Do I Need?
If you’re applying to become an Alaska contractor, the specific license you need depends on the cost and type of projects you’ll be working on:
- Handyman: Works on projects with an aggregate cost of $10,000 or less
- Residential Contractor: Builds or remodels private homes with 1–4 units and is authorized to complete residential work worth more than 25% of the structure’s value
- Specialty Contractor: Can perform the work of up to three approved trades. If your work requires more than three trades, you’ll need a general contractor license
- Mechanical Contractor: Handles plumbing, heating, sheet metal or refrigeration. You must also hold or employ someone who holds a mechanical administrator license
- General Contractor: Can perform new home construction, commercial work and residential remodel work
You can also add a residential contractor endorsement, which certifies you to work under a licensed residential contractor. General contractors overseeing new home construction or performing residential work greater than 25% of the structure’s value must hold this endorsement.
What Are the Alaska Professional Licensing Bond Requirements?
Your Alaska professional license bond coverage amount will depend on the type of license you’re applying for. See the following table to identify your bond coverage.
| License Type | Bond Amount |
|---|---|
| Collection Agency | $5,000 |
| Concert Promoter | $5,000 |
| Hearing Aid Dealer | $5,000 |
| Home Inspector | $10,000 |
| Handyman | $5,000 |
| Residential Contractor | $10,000 |
| Specialty Contractor | $10,000 |
| Mechanical Contractor | $10,000 |
| General Contractor with a Residential Endorsement* | $20,000 |
| General Contractor | $25,000 |
*Note: The bond amount only changes for general contractors who use this endorsement exclusively for residential work.
How Much Do Professional Licensing Bonds Cost in Alaska?
Most Alaska professional licensing bonds are available at a flat rate with no credit check required. The $5,000 bond costs $75, and the $10,000 bond costs $200. You can also select a multi-year term at checkout to save 25%.
For general contractors, the $20,000 bond starts at $300. For an exact quote, complete a quick application that includes a soft credit check and information on your industry experience. Rates typically range from 1.5–10% of the bond amount.
Select your license type below to begin the bonding process.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does an Alaska Professional Licensing Bond Work?
An Alaska professional licensing bond forms a legal contract between the following three parties.
| Bond Party | Description |
|---|---|
| Principal | The license applicant filing the bond |
| Obligee | The Alaska DCCED requiring the bond |
| Surety | The provider issuing the bond |
If you break the bond terms, harmed parties can file claims. The surety will cover valid claims up to the full bond amount. However, you are ultimately responsible for refunding the surety.
How Do I Get a Professional Licensing Bond in Alaska?
Our secure online portal makes the bonding process fast and simple. You can start a purchase or request a quote online 24/7.
Most Alaska professional licensing bonds are available for instant purchase. Simply enter your information and checkout online in minutes. We’ll email you the official bond form right after.
General contractor bonds require a quick application and a soft credit check. After we receive your information, you’ll get a personalized quote within one business day.
How Do I File My Bond?
Once we process your payment, we’ll email your official bond form directly to you. You’ll still need to file the bond along with your license application.
How Do I Renew My Professional Licensing Bond?
Alaska professional licensing bonds expire annually. We’ll begin reminding you by phone and email 90 days before the expiration date. To renew, simply pay the attached invoice.
You’ll receive a continuation certificate to keep your bond active for another year. File this with the CBPL as instructed.
How to Get a Professional License in Alaska
To apply for a professional license in Alaska, start by creating a MY LICENSE account. Through this online platform, you can apply for, renew and update your license. Refer to the CBPL’s MY LICENSE guide for step-by-step instructions.
How to Get a Construction Contractor Registration
You’ll need to complete a different application form depending on your type of contracting work. However, all applications have the following standard requirements:
- Proof of adequate public liability and property damage insurance
- Proof of workers’ compensation insurance (if applicable)
- Surety bond form
- $350 application and registration fee
Registrations are active for two years and expire on December 31 of even-numbered years.
How to Open a Collection Agency
The CBPL offers the following types of collection agency licenses:
- Collection Agency
- Collection Agency Branch
- Collection Agency Operator
Out-of-state agencies also need a license if they collect or solicit claims for creditors in Alaska.
To apply for a collection agency license, upload the following materials along with your application form:
- $5,000 surety bond form
- Payment for the $100 fee (residents) or the $200 fee (nonresidents)
Your license will be active for two years and will expire on June 30 of even-numbered years.
Each collection agency must be managed by a licensed operator. Operators must complete a separate application process.
Branch agencies also have a separate application form. You only need one surety bond, regardless of the number of branch locations.
How to Become a Concert Promoter
To register as an Alaska concert promoter, upload proof of the following requirements to your online application:
- Alaska business license
- $5,000 surety bond form
- Payment for the $625 fee
Your registration will be active for two years and expire on December 31 of even-numbered years.
How to Become a Hearing Aid Dealer
To become a hearing aid dealer in Alaska, complete the following requirements:
- Verify License Requirements: Verify with the CBPL if you need an Alaska Business License.
- Purchase a Bond: Purchase the required $5,000 surety bond.
- Apply: Submit the application form via the MY LICENSE portal.
- Pay Fees: Pay the $270 fee.
Once approved, your license will be active for two years and will expire on September 30 of even-numbered years.
How to Become a Home Inspector
Complete the following steps to register as a home inspector in Alaska:
- Obtain a Business License: All home inspectors must also hold an Alaska Business License.
- Pass Exams: To work on both new and existing homes, you must pass all four national ICC inspector exams covering residential building, electrical, mechanical and plumbing.
- Buy a Bond: Purchase the required $10,000 surety bond.
- Get Liability Insurance: Purchase public liability and property damage insurance in the required amounts.
- Apply: Upload all supporting materials to your MY LICENSE account.
- Pay Fees: Pay the $350 fee.
Home inspector registrations are active for two years and expire on June 30 of even-numbered years.
