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How much does a $3,000 master heating, ventilation, air conditioning, or refrigeration contractor bond cost in New Jersey?
A $3,000 master heating, ventilating, air conditioning, and refrigeration contractor bond costs $100 for two years of coverage. Simply click Buy Now to visit our secure bond checkout where you can purchase your bond directly from our site. In just a few minutes you can be on your way to getting bonded as an HVACR contractor in New Jersey.
Why do New Jersey master HVACR contractors need a surety bond?
Master HVACR contractors that wish to be licensed in New Jersey must first submit a $3,000 surety bond to the New Jersey Division of Consumer Affairs’ State Board of Examiners of Heating, Ventilating, Air Conditioning and Refrigeration Contractors.
The bond must be filed with the Board of Examiners to obtain a license as required by N.J.S.A. 45:14C-26 and N.J.A.C. 13:32-2.5, and it ensures that all Master HVACR contractors will abide by all rules and regulations set forth by N.J.S.A. 45:16A-1. In the event that a contractor fails to perform their job pursuant to these regulations and a claim is filed against the bond, the surety will pay out up the full amount of the bond and will then look to the principal (contractor) for reimbursement.
How long are New Jersey HVACR surety bonds in effect?
Master HVACR bonds expire on June 30 of even years. All bonds written before that date will be active until then, at which point they must be renewed for the full two-year term. The surety may also cancel the bond at any time by notifying the obligee in writing at least 30 days in advance.
How to become a master HVACR contractor in New Jersey
Before obtaining a surety bond, an HVACR contractor applicant must pass the master HVACR licensing examination or qualify for licensure pursuant to N.J.A.C. 13:32A-2.5 or 2.6. Upon completion, they will then need to complete the following requirements:
- Provide certificate of general liability insurance in amount of $1000,000
- Provide Federal Tax Identification number for HVACR business
- Pay licensing fee of $160.00
A full list of requirements may be found in subchapter two of the New Jersey Administrative Code Title 13 - Chapter 32A.
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