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Oregon Residential Contractor License Bond

How much will my Oregon residential contractor license bond cost?

The Oregon Construction Contractors Board mandates that all applicants wishing to become a licensed residential contractor must submit a bond. Like commercial contractors in Oregon, residential contractor bonds are available in varying amounts that are based upon the license for which the applicant is applying. Oregon license classifications require bonds in the following amounts:

  • General ($20,000)
  • Specialty ($15,000)
  • Limited ($10,000)
  • Developer ($20,000)

Although the bond amounts for residential contractors are not particularly large, contractor bonds are still considered to be inherently risky. Therefore, the bond will need to be underwritten, meaning that the premium an applicant pays will be determined by a review of the applicant’s credit. With excellent credit, Suretybonds.com can get an applicant approved for their bond for as little as 1% of the total bond amount!

Our team of surety experts’ unsurpassed knowledge of the bonding process ensures that you will be bonded quickly, easily and accurately. Apply for a free bond quote today!

Bond Type Bond Amount Cost by Credit Score*
680 and up 679 - 600 599 or lower
Residential General Contractor Bond $20,000 Starts at $200 $1,000-2,000 $2,000+ Apply Now
Residential Specialty Contractor Bond $15,000 Starts at $150 $750-1,500 $1,500+ Apply Now
Residential Limited Contractor Bond $10,000 Starts at $100 $500-1,000 $1,000+ Apply Now
Residential Developer Bond $20,000 Starts at $200 $1,000-2,000 $2,000+ Apply Now
Residential Restoration Contractor Bond $10,000 Starts at $100 $500-1,000 $1,000+ Apply Now
*The bond premium rate quotes provided to you through this website are for pricing comparisons and quotation estimate purposes only. The bond rate quotes provided are based on general assumptions that may or may not be applicable to you and are subject to change at any time. These rate quotes do not constitute an offer of insurance, nor is any contract, agreement, or bond coverage implied, formed or bound by the provision of rate quotes. Bondability, final bond premium rate quotes and an offer of insurance, if any, will be determined by the insurance company providing your bond. You must contact us directly to obtain a quote for binding purposes.

Fill out our online bond request form or give us a call today at 1 (800) 308-4358 to receive a free, personalized bond quote within one business day of submitting an application.

Why do I need this bond?

Residential contractors are required to purchase a bond before conducting or supervising any residential construction. The bond is intended to protect the public from harm due to any misconduct on the part of the contractor. More specifically, if the contractor violates any terms of the bond, Oregon Revised Statutes Chapter 701 or Oregon Administrative Rules Chapter 812, a claim may be filed against their bond.

If need be, the surety backing the bond will pay out up to the full amount of the bond in order to settle the claim. Upon resolving the claim, the surety will then look to the principal to reimburse them for any money paid out in the claims process. Should the contractor fail to repay the surety in a timely manner, the surety may resort to other legal means in order to collect reimbursement.

Not only can a claim be financially devastating to a contractor, but it will often times prevent them from being bonded in the future. Therefore, it is important that the contractor understands exactly what the bond guarantees.

If you’re ready to get bonded, submit a bond request form or give our team a call at 1 (800) 308-4358!

How long do I need this bond for?

Residential contractor bonds remain in effect for the duration of the contractor’s license and must be renewed each year by paying the surety an annual premium. However, a clause on the bond form does allow for the Surety to cancel the bond at any time by providing the Board with written notice 30 days prior to the proposed cancellation date.

Because a bond is required to be licensed, a contractor whose bond has been cancelled must contact a surety immediately in order to avoid penalties, including by not limited to license revocation.

Our team of surety specialists is dedicated to getting you the bond you need fast. Apply for a free bond quote today!

How to become a residential contractor in Oregon

Each license classification for Oregon residential contractors allows them to engage in specific types of work. For example, residential general contractors are classified to perform the same work as residential specialty contractors, but residential specialty contractors are not authorized to perform the same work as residential general contractors. Since each classification is unique, contractors must make sure that they are applying for the correct license type.

However, all contractors—be it residential or commercial—must complete the following in order to receive their license:

  • Determine the type of structures on which you will work
  • Complete pre–license training and pass required test
  • Structure the company by contacting the Oregon Secretary of State, Corporation Division
  • Submit a bond in the correct amount
  • Provide proof of all necessary insurance
  • Obtain other employer account numbers
  • Complete and submit an application along with a $325 fee for a 2–year license

Ready to get started?

Get a FREE Residential Contractor Bond Quote Today!

Oregon Construction Contractors Board - Surety Bonds

Oregon Construction Contractors Board - Steps to Get Licensed

Oregon Construction Contractors Board - Forms and Fees

Application for a Commercial License

Oregon Revised Statutes Chapter 701

Oregon Administrative Rules Chapter 812

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