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How much does a South Carolina mechanical contractor bond cost?
South Carolina mechanical contractor bond costs start at $100 annually. Your personal premium will be provided after a quick application review based on your license type and its required bond amount. The state requires these bonds expire on October 31st of odd-numbered years, so your invoice will reflect this required bond term expiration date.
How can I get a mechanical contractor license bond in South Carolina?
You can apply for your South Carolina mechanical contractor license bond online 24/7. You must provide the following information for Contractor's Licensing Board filing approval.
- mechanical contractor name
- construction group license type
- license number, if available
Once your order has been processed, your official South Carolina surety bond will be delivered to your email.
How long does it take to get a South Carolina mechanical contractor bond?
Our industry leading technology and responsive customer service team allow us to deliver your official South Carolina mechanical contractor bond faster than any other surety company. Orders placed by 4 PM CST Monday-Friday are typically processed with same-day emailed mechanical contractor bond delivery.
If you have questions about South Carolina mechanical contractor bonds 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 South Carolina mechanical contractor license bond?
South Carolina Code of Laws Section 40-11-262 allows mechanical contractors to file a surety bond in lieu of providing a financial statement that shows the minimum net worth outlined as a state licensing requirement. The state's official form is titled “Surety Bond for Mechanical Contractors” but is more commonly known as the “mechanical contractor license bond” or “mechanical contractor bond.” This bond specifically requires mechanical contractors comply with state law when fulfilling their construction contracts or contracts regarding labor, materials, and other professional construction services.
When is the South Carolina mechanical contractors license bond required?
This bond is only required for state level licensing if a mechanical contractor chooses not to provide a financial statement proving they meet the state's minimum net worth requirement. By filing this bond you agree to comply with state law when fulfilling construction contracts or otherwise providing construction services. If you fail to do so, your issuing surety company will pay valid claims to the state or harmed individuals up to your full bond amount, which you must reimburse.
Who regulates licensing for mechanical contractors?
The South Carolina Department of Labor, Licensing and Regulation Contractor's Licensing Board regulates mechanical contractors working in the state. You can contact the Board by calling 1(803)896-4686 or emailing [email protected].
The South Carolina Contractor's Licensing Board requires this bond for mechanical contractor licensing. The CLB enforces a separate South Carolina general contractor license bond requirement if you work a general contractor. If you need a bond for city contractor licensing, we also offer other South Carolina contractor bond types. You might also need the North Carolina contractor license bond if you work across state lines.
What is the coverage limit of a South Carolina mechanical contractor bond?
South Carolina Code of Laws Section 40-11-262 sets the following mechanical contractor net worth requirement limits for South Carolina mechanical contractor bond amounts.
- Group 1 can't exceed $17,500 per job with a required net worth of $3,500: $7,000 bond amount
- Group 2 can't exceed $50,000 per job with a required net worth of $10,000: $15,000 bond amount
- Group 3 can't exceed $100,000 per job with a required net worth of $20,000: $30,000 bond amount
- Group 4 can't exceed $200,000 per job with a required net worth of $40,000: $60,000 bond amount
- Group 5 unlimited bids and jobs with a required net worth of $200,000: $300,000 bond amount
If you need help determining your required bond amount, contact the Contractor's Licensing Board before purchasing your mechanical contractor bond.
What happens if you don't have a South Carolina mechanical contractor bond?
You don't need to file a contractor bond with the state if you perform construction work that costs less than $5,000 or if you provide an acceptable financial statement to the CLB. If you perform construction work that costs more than $5,000 and do not provide an acceptable financial statement to the CLB, you must purchase and file a mechanical contractor bond.
How do I update or change my mechanical contractor license bond form?
If the Contractor's Licensing Board requires your bond form to be updated for any reason, contact your surety provider. If you purchased your bond from SuretyBonds.com, email [email protected] to explain the needed change. The most common change requested is updating your mechanical contractor name to match your existing contractors license or new business license application.
How long does a South Carolina mechanical contractor bond remain valid?
You must renew your South Carolina mechanical contractor bond before its current term expires on October 31st of odd-numbered years. Once you pay your SuretyBonds.com renewal invoice, instructions will be provided to keep your bond active for your next 2-year licensed contractor term.
How do you become a licensed mechanical contractor in South Carolina?
Complete the steps below to apply for your South Carolina mechanical contractor state license.
- Complete the General and Mechanical Contractor Application for Licensure (Doc 165).
- Pay the $350 license fee.
- Provide proof you've been authorized by the South Carolina Secretary of State to work in the state. (This isn't a licensing requirement if you operate a sole proprietorship.)
- Purchase and file a South Carolina surety bond in the correct required bond amount, if applicable.
- If you aren't currently certified in the state as a qualifying party or primary qualifying party or have been inactive for at least 4 years, complete Document 168. If you have a certification and need to transfer it, complete Document 181.