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How much does a contractor bond cost in Wisconsin?
Various cities and contractor classifications in Wisconsin 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 Wisconsin 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 Wisconsin surety bond is to use the table below to submit a bond request now!
Why is a Wisconsin contractor’s bond required?
Contractor bonds in Wisconsin are put in place to ensure that a licensed contractor (the principal) completes 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 Wisconsin 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.
How to obtain a Wisconsin contractor license
- Take an approved Wisconsin contractor qualifier course
- Apply for a qualifier certificate by filling out the license application and paying the $15 application fee and $30 credential fee
- Acquire a surety bond
- Depending on the license the applicant is applying for, applicants may also have to obtain worker’s compensation insurance or unemployment insurance