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How much does an Iowa contractor license bond cost?
The state of Iowa and various cities throughout the state require contractors to post industry-related surety bonds in varying amounts. Applicants should verify their bond requirements with the state and their local municipality prior to completing construction work.
Some of the bonds listed below are subject to underwriting consideration, while others can be issued instantly without a credit check for a low flat rate. The best way to find out exactly how much you’ll pay for your Iowa contractor bond is to connect with our team of bond experts now!
Purchasing the bond you need is fast and easy when you work with the experts at SuretyBonds.com! Submit a bond request or call 1 (800) 308-4358 to get started.
Why do I need this bond?
Contractor bonds in Iowa are put in place to ensure that principals (contractors) conduct business in accordance with the laws of the state and/or their individual city. Some of these rules and regulations include:
- paying for all labor and materials used during the construction process
- completing construction projects according to code
- paying all taxes due to the state
- correcting any code violations in the given time frame
If the principal fails to comply with these terms, the bond protects harmed parties from financial loss up to the full amount of the bond.
How to file an Iowa contractor license
The contractor license application can be submitted online; a $25 charge will be applied to any paper applications. You must be at least 18 years old to apply and meet public liability insurance, surety bond, and Master of Record requirements.
- Provide documentation of any criminal convictions relating to this profession, with a full explanation on the occurrence.
- Submit the required surety bond and business information to receive a Division of Labor Contractor Number.
- File the application and submit the applicable fees.
- Provide a valid unemployment insurance number, even if you are without employees.
- Provide the board with evidence of a permanent place of business.