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How much does a Virginia contractor license bond cost?
Virginia contractor bond costs start at $100 annually. Your exact cost will vary depending on which Virginia contractor license you need and its required bond amount. The Board for Contractors state level surety bond requires a quick application review to determine pricing. Most city and county contractor bonds cost $100 annually for all applicants.
How do you get a Virginia contractor license bond?
You can buy your Virginia contractor license bond online 24/7. Simply select which bond you need from the dropdown above or the table below. You'll need to provide information your licensing authority requires for bond filing approval, which typically includes your contractor or construction company name, physical business address, and license type. Once your order is processed, your bonding confirmation will be sent to your email.
How fast can I get a licensed contractor bond?
Our industry-leading technology and responsive customer service team allow us to deliver your official Virginia contractor license bond faster than any other surety provider. SuretyBonds.com offers emailed document delivery for most Virginia contractor license bonds. Orders placed by 4 PM CST Monday-Friday are typically processed with same-day emailed delivery. If your licensing authority requires your official bond be physically issued and delivered to you, we'll ship it to your preferred mailing address.
If you have any questions about Virginia contractor license bond requirements, call 1(800)308-4358 to speak with one of our friendly surety experts. We're here to guide you through the contractor bond process so you can get back to running your business.
What is a Virginia contractor license bond?
“Virginia contractor license bond” is a blanket term used for the different surety bonds required for contractor licensing throughout the state. Each contractor license surety bond has its own specific terms, but they generally require contractors work according to state, county, and city construction compliance laws.
Virginia Code Sections 54.1-1106 and 1108 require class A and class B contractors file state form A501-27BOND-v1, which is officially titled the “Board for Contractors Surety Bond Form” or “Contractor Bond Form.” This $50,000 state-required contractor bond must be issued for 2 years coinciding with a contractor's 2-year license term. This form specifically requires contractors comply with Virginia Code 54.1-1100, board regulations, and other laws that govern the state's contractors.
Why do you need a Virginia contractor surety bond?
To be licensed at the state level, class A and class B contractors who cannot prove they meet the minimum net worth requirement for their license classification must file a surety bond with the Virginia Department of Professional and Occupational Regulation (DPOR). Some cities and counties require their own separate contractor bonds for licensing. These bonds protect the licensing authority and consumers from losses resulting from contractor noncompliance. The contractor's surety company will pay valid claims up to the full bond amount, which the bonded and licensed contractor must then reimburse in full.
Who regulates licensing requirements for contractors?
The Department of Professional and Occupational Regulation Board for Contractors enforces license and surety bond requirements for contractors at the state level. You can contact the DPOR Board for Contractors Licensing Section by calling 1(804)367-8511 or emailing [email protected].
If you work in one of the following cities or counties, you must file an additional bond with them directly before you can become a licensed contractor in the area. If you need a contractor license surety bond for a city or county not listed below, call 1(800)308-4358.
- Arlington County
- Falls Church
- Newport News
- Petersburg Excavation
- Prince William
- Roanoke Excavation
Need a surety bond for a construction project in Virginia?
Virginia contractor bonds are required for licensing compliance. 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 Virginia, we also offer contractor license bonds nationwide.
How do I update or change my contractors license bond form?
If your licensing authority requires your Virginia surety bond documentation 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 the contractor/construction company's name, address, or license type.
How do I renew my contractor bond?
You'll need to renew your Virginia surety bond before its current term expires. If your original bond was issued and filed by SuretyBonds.com, we will provide you with renewal instructions after you pay your renewal invoice. You must maintain a bond with your licensing authority as long as your contractors license remains active.
What is the difference between class A, class B and class C contractor licenses?
Class A Contractor
Class A contractors have managed a single contract of $120,000 or more or more than $750,000 for all contracts managed in the past 12 months. To be licensed as a class A contractor with the state, you must file a $50,000 surety bond.
Class B Contractor
Class B contractors have managed a single contract between $10,000 and $120,000 or between $150,000 and $750,000 for all contracts managed in the past 12 months. To be licensed as a class B contractor with the state, you must file a $50,000 surety bond.
Class C Contractor
Class C contractors have managed a single project between $1,000 and $10,000 or less than $150,000 for all contracts managed over a 12-month period. You are not required to file a surety bond to be licensed as a class C contractor with the state.
How do you get your Virginia contractor license?
Learn How to get a Virginia Contractor License by reviewing our comprehensive guide.
Complete the following steps to apply for your state contractor license in Virginia.
- Review the Virginia DPOR Contractor Licensing Information and Application Instructions.
- Pay your $50 annual business registration fee in addition to your license classification fee. (Class A Contractors: $385 Class B Contractors: $370 Class C Contractors: $235)
- Purchase your $50,000 surety bond (class A and class B contractors only).
- Submit your application with all required paperwork to the Virginia Department of Professional and Occupational Regulation.
The DPOR advises 30 days is the average processing time for most state level contractor license applications.
What can contractors do to avoid claims against the Virginia contractor license bond?
To avoid claims filed against your Virginia contractor license surety bond, you must complete your construction work and operate your business according to any applicable state or local law. If a valid claim is filed against your bond, you'll be required to reimburse your issuing surety company for any damages paid.