How much does a contractor bond cost in South Carolina?
Various cities and contractor classifications in South Carolina require contractors to post surety bonds prior to completing work. Applicants should verify their required bond amount with the city and/or government entity in charge of licensing and registration for their classification prior to bonding.
Many South Carolina contractor bonds can be issued instantly without a credit check, while others are subject to underwriting consideration. The best way to find out exactly how much you’ll pay for your South Carolina surety bond is to submit a bond request now!
For information about South Carolina residential builder and specialty contractor bonds, click here.
|Bond Type||Bond Amount||Cost|
|$20,000 General Contractor Bond Group 1||$20,000||Starts at $200||GET A QUOTE|
|$80,000 General Contractor Bond Group 2||$80,000||Starts at $800||GET A QUOTE|
|$200,000 General Contractor Bond Group 3||$200,000||Starts at $2,000||GET A QUOTE|
|$350,000 General Contractor Bond Group 4||$350,000||Starts at $3,500||GET A QUOTE|
|$500,000 General Contractor Bond Group 5||$500,000||Starts at $5,000||GET A QUOTE|
|$7,000 Mechanical Contractor Bond Group 1||$7,000||Starts at $100||GET A QUOTE|
|$20,000 Mechanical Contractor Bond Group 2||$20,000||Starts at $200||GET A QUOTE|
|$40,000 Mechanical Contractor Bond Group 3||$40,000||Starts at $400||GET A QUOTE|
|$80,000 Mechanical Contractor Bond Group 4||$80,000||Starts at $800||GET A QUOTE|
|$400,000 Mechanical Contractor Bond Group 5||$400,000||Starts at $4,000||GET A QUOTE|
|$5,000 Columbia Demolition Contractor Bond 1 and 2 family residential structures||$5,000||$100|
|$15,000 Columbia Demolition Contractor Bond Multi-family and commercial structures||$15,000||$100|
|$2,000 Forest Acres Contractor Bond||$2,000||$100|
|$1,000 North Augusta Contractor Bond||$1,000||$100|
|$2,500 Richland County Contractor Bond||$2,500||$100|
Purchasing your South Carolina contractor bond is easy when you work with the experts at SuretyBonds.com! Call 1 (800) 308-4358 or click here to get started.
Why is a contractor bond required?
Contractor bonds in South Carolina are put in place to ensure that principals (contractors) complete construction work in accordance with the laws of the city/state. This includes adhering to all building codes, paying all taxes that become due and more. Typically, these bonds protect the city/state and/or any individual who is harmed as a result of the principal’s noncompliance from financial loss up to the full amount of the bond. The principal must reimburse the surety for all damages paid out.
All South Carolina contractor bonds have unique terms, so applicants should be sure they understand the fine print of their surety bond contracts during the bonding and licensing processes.
South Carolina General and Mechanical Contractor License Bonds
The Department of Labor, Licensing and Regulation requires general and mechanical contractors obtain a surety bond in order to obtain a contractor license if they are doing commercial work. General contractors are responsible for managing and supervising construction projects. Mechanical contractors are specialty contractors that are typically in charge of anything mechanized, ranging from heating or cooling systems to refrigeration to piping and plumbing.
General contractor bond amount requirements
- Group 1 General Contractor - $20,000 surety bond
- Group 2 General Contractor - $80,000 surety bond
- Group 3 General Contractor - $200,000 surety bond
- Group 4 General Contractor - $350,000 surety bond
- Group 5 General Contractor - $500,000 surety bond
Mechanical contractor bond amount requiremnts
- Group 1 Mechanical Contractor - $7,000 surety bond
- Group 2 Mechanical Contractor - $20,000 surety bond
- Group 3 Mechanical Contractor - $40,000 surety bond
- Group 4 Mechanical Contractor - $80,000 surety bond
- Group 5 Mechanical Contractor - $400,000 surety bond
How much do general and mechanical contractor bonds cost?
All of the mechanical or general contractor surety bonds are underwritten, meaning an underwriter must review your application and consider factors such as credit to determine the cost of your surety bond.
General and Mechanical contractor bonds are continuous, which means they will remain in effect until the bond is canceled by the obligee or the surety. If the surety decides to cancel the bond, they will give the obligee and the principal (contractor) 30 days notice. Your bond must remain effective to maintain your license, so if your bond is canceled, a replacement must be obtained.