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How much does a license and permit bond cost in Davenport, Iowa?
A license and permit bond for a contractor in Davenport, Iowa, can be issued in minutes. Applicants looking to become licensed as an electrical contractor, mechanical contractor, plumbing contractor, or sign contractor will pay just $100 for their $5,000 surety bond, while general contractors will pay $125 for their $25,000 surety bond.
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Why do I need this bond?
This bond requires licensed business owners to comply with all applicable rules, regulations, and ordinances of the City of Davenport. The bond language also requires business owners to pay all damages or losses that could occur from any act, neglect, or carelessness, especially those relating to poor work or defective materials.
What’s the fine print?
The principal’s occupation must be listed on the bond form. A separate bond is required for each separate license type that a principal maintains.
This bond is continuous until canceled. If the bond is to be canceled, the surety must provide the city with a 60-day notice prior to cancellation.