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How much does a North Carolina contractor license bond cost?
North Carolina contractor license bond costs start at 1% of your state-required bond amount. Your personal premium will be provided after a quick application review.
Note the North Carolina contractor license bond is required for state general contractor licensing. Other North Carolina contractor bond types have different pricing.
How do you get a general contractor license bond?
You can apply for your North Carolina general contractor license bond online 24/7 through our safe and secure online application portal. Simply provide your general contractor or construction company name and Federal Employer ID Number (FEIN) for Licensing Board for General Contractors filing approval. Once your order has been processed, your official North Carolina contractor license bond will be delivered by email.
Can you get a North Carolina contractor license bond with bad credit?
Yes, you can be approved for your North Carolina contractor license bond with bad credit. You might be asked to provide additional application information for nonstandard market approval.
How fast can I get a general contractor license surety bond?
Our industry-leading technology and responsive customer service team allow us to deliver your official North Carolina contractor license bond faster than any other surety provider. General contractor bond orders placed by 4 PM CST Monday-Friday are typically processed with same-day emailed delivery.
If you have questions about the North Carolina general contractor license bond or your application, call 1(800)308-4358 to speak with a friendly surety expert. We're here to guide you through contractor bonding so you can get back to running your business.
What is the purpose of the North Carolina general contractor bond?
North Carolina Administrative Code 12.0204(b) requires general contractor license applicants have current assets that exceed current liabilities by at least $17,000 or have a total net worth of at least $80,000. If a general contractor cannot meet this working capital requirement, NCAC 12.0204(e) allows general contractor license applicants to file a surety bond that must be maintained as long as the applicant maintains their general contractor license. This bond requires general contractors comply with all applicable laws, statutes, ordinances, rules, or regulations while performing their North Carolina construction contracts.
Why is the North Carolina contractor license bond required?
This North Carolina surety bond is a state contractor licensing requirement if you can't fulfill the state's financial requirements. The license bond is required to verify a general contractor's financial stability in lieu of providing working capital verification. The state's official bond form specifically benefits any person damaged by a general contractor's breach of contract while performing their construction work.
Who is required to have a North Carolina contractor license bond?
You need to purchase and file this North Carolina surety bond if you're applying for your general contractor license but aren't able or willing to provide proof that you meet the state's working capital verification that you have a total net worth of at least $80,000 or that your current assets exceed your current liabilities by at least $17,000.
What is the North Carolina general contractor license bond amount?
Your surety bond amount is based on your general contractor license type.
- Limited License: $175,000 bond amount
- Intermediate License: $500,000 bond amount
- Unlimited License: $1,000,000 bond amount
Who issues general contractor licenses in North Carolina?
The North Carolina Licensing Board for General Contractors enforces state license requirements for general contractors. You can contact the board by calling 1(919)571-4183, emailing [email protected], or mailing documents.
North Carolina Licensing Board for General Contractors
5400 Creedmoor Road
Raleigh, NC 27612
The North Carolina Licensing Board for General Contractors requires this bond to get a general contractor state license. We also offer other North Carolina contractor bond types for separate state and city contractor licensing requirements.
Need a surety bond for a construction project in North Carolina?
This North Carolina contractor license bond is required for state general contractor licensing. If you need a surety bond before you can begin work on an individual contracted project, you might need a bid bond, payment bond, performance bond, or other type of contract bond. If you work in states other than North Carolina, we also offer contractor license bonds nationwide.
How do I update or change my contractor license bond form?
If the North Carolina Licensing Board for General Contractors requires your bond to be updated for any reason, contact your surety company. If you purchased your bond from SuretyBonds.com, email [email protected] to explain the needed change. The most common changes requested are updating your individual contractor or construction company's name or address to match your state general contractor license.
Do I need to renew my general contractor license bond?
Yes, you must renew your North Carolina general contractor license bond before its current term expires. North Carolina Annotated Code specifically requires general contractors maintain their surety bond as long as they have their general contractor license. Once you pay your SuretyBonds.com renewal invoice, instructions will be provided to keep your general contractor license in good standing with the North Carolina Licensing Board for General Contractors.
What are the North Carolina contractor license classifications and limitations?
North Carolina Annotated Code Title 21 Chapter 12A .0202 outlines the following North Carolina contractor license classifications.
- Building Contractor
- Residential Contractor
- Highway Contractor
- Public Utilities Contractor
- Specialty Contractor
North Carolina Annotated Code also outlines the following contractor license limitations.
- Limited License
- Intermediate License
- Unlimited License
What are the requirements to get a North Carolina general contractor license?
Complete the following steps to apply for your general contractor license in North Carolina.
- Determine whether you need a limited license, intermediate license, or unlimited license.
- Be at least 18 years old.
- Provide proof you possess good moral character.
- Provide proof of your financial responsibility, such as a North Carolina surety bond.
- Pass all required exams.
- Fill out your online application.
- Pay the application fee.