How much does a South Carolina residential builder bond cost?
South Carolina residential builder bond costs start at $100 annually. Your exact surety bond cost will vary based on your residential contractor license type and its required bond amount.
- The $5,000 Registered Residential Specialty Contractor Bond costs $100 annually.
- The $10,000 Licensed Residential Specialty Contractor Bond costs $150 annually.
- The $15,000 Residential Builder/Certificate of Authorization Bond costs $225 annually.
How do I get a residential builder bond in South Carolina?
You can purchase your South Carolina residential builder bond online 24/7. Simply select the bond amount required for your residential contractor license and provide your name and address for Residential Builders Commission filing approval. Once your payment is processed, your official residential contractor bond will be delivered to your email instantly.
How fast can I get a residential builder in South Carolina?
SuretyBonds.com offers instant South Carolina residential builder surety bond delivery 24/7. Purchase now to receive your official South Carolina surety bond delivered in minutes by email.
If you have questions about South Carolina contractor bond requirements, call 1(800)308-4358 to speak with a friendly surety expert. We're here to guide you through the contractor bond process so you can get back to running your business.
What is a South Carolina residential builders bond?
South Carolina Code of Laws Section 40-59-220 requires all residential builders be licensed while all residential specialty contractors must be registered. Each contractor must file a surety bond with the state before being issued a state license or registration to work as a residential contractor. The state's official form is titled the “License Bond” but is more commonly known as the “registered residential specialty contractor bond,” “licensed residential specialty contractor bond,” or just “residential builder bond.” This bond form specifically protects homeowners who sustain losses or damages resulting from a residential contractor who fails to work according to the laws established for their contractors license.
What is the purpose of the South Carolina residential builder bond?
By filing this residential builder bond, a residential builder or specialty contractor agrees to comply with all rules and regulations pertaining to the South Carolina Residential Code and Health and Safety requirements, specifically South Carolina Code of Laws Title 40 Chapter 59. If they fail to do so, their issuing surety company will pay valid claims to harmed parties up to the full bond amount, which the bonded and licensed contractor must then reimburse.
Why is the South Carolina residential builders contractor bond required?
The South Carolina Residential Builders Commission enforces licensing requirements for residential contractors in the state, including this $5,000 bond amount requirement. If you have questions about your contractors license or which bond amount you need for your state license, you can contact the Residential Builders Commission by calling 1(803)896-4696 or emailing [email protected].
The South Carolina Residential Builders Commission requires this bond for residential contractor licensing. You can also learn about other South Carolina contractor license bond types required throughout the state. SuretyBonds.com also offers North Carolina contractor license bond types as well as other construction contractor bond types nationwide.
How do I update or change my residential builder bond form?
If the Residential Builders Commission requires your surety bond documentation 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 changes requested are updating your contractor license bond name or address to match your construction contractor licensing board paperwork.
How do I renew my residential builder bond?
You must renew your South Carolina residential builder surety bond before its current term expires. Once you pay your SuretyBonds.com renewal invoice, renewal instructions will be emailed to you to keep your bond active for your next licensed contractor term.
How do residential contractors apply for a license in South Carolina?
Learn How To Get A South Carolina Residential Builder License by reviewing our comprehensive guide.
Complete the following steps to apply for your South Carolina registered residential specialty contractor license, licensed residential specialty contractor license, or residential builder license.
- Submit an online application.
- Pass the PSI exam, and submit your exam score report.
- Pay your homebuilder license fee.
- Purchase and file your South Carolina surety bond in the correct required bond amount.
The following supporting documents must be uploaded to your application or mailed to the South Carolina Residential Builders Commission.
- copy of photo ID and Social Security card
- notarized affidavit
- notarized Verification of Lawful Presence form
- copies of W2's and/or 1099's from employer filling out your affidavit of experience
- proof of work experience in the trade you're applying for
- written explanations for any “Yes" answers
South Carolina Residential Builders Commission
PO Box 11329
Columbia, SC 29211
