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How much does a well and pump contractor license bond cost in Colorado?
The Water Resources Division of the Colorado Department of Natural Resources requires water well and pump installers to post a $20,000 surety bond. These bonds must be renewed each year on January 31, meaning the price may be prorated. However, these bonds can be issued instantly starting at just $100.
Why do I need this bond?
Colorado water well and pump installation bonds cover financial losses consumers might suffer if unlawful work is executed by a principal (well driller or pump installation contractor). This bond requires the principal to complete all required duties, including, but not limited to:
- building the well in such a manner that its surroundings can be kept in a sanitary condition
- constructing the well in an adequate size in compliance with the well permit
- maintaining natural protection against pollution of water-bearing formations
For more information about this bond, contact an expert surety specialist now.
What’s the fine print?
The company’s physical address, licensees, and type of licenses covered by the bond must be listed on the form. The bond term should correspond with the license term of February 1 through January 31.
If the bond is to be canceled, at least 30 days' notice must be provided to the Colorado Board of Examiners of Water Well Construction and Pump Installation Contractors.
How to become a well construction and pump installation contractor in Colorado
In addition to posting a surety bond, Colorado well construction and pump installation contractors must meet the following requirements to get licensed:
- be a citizen of the United States
- be 21 years of age
- have at least two years of experience
- pass a written and oral examination demonstrating professional competence
- pay all applicable fees
Licensed contractors must complete eight hours of educational training approved by the Board every year to maintain or renew a license.
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Call 1 (800) 308-4358 to talk with a Surety Expert today.