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What is a Colorado Contractors License Bond?
A contractor license bond is a type of surety bond that must be purchased by various types of contractors in Colorado to ensure compliance with the rules and regulations of the state or local government. Contractor license bonds are required as a condition for obtaining licenses or permits by municipalities, counties, states and federal governments. If you're looking for more information about contractor license bonds please contact us!
Are you a contractor looking for a bond?
Contractor bonds are required by law in many states to protect the public and other contractors who may be involved in a project. A contractor bond is an insurance policy that guarantees you will fulfill all of the requirements of your contract, including payment for labor and materials, if you don’t finish on time or at all.
Get started today with our easy-to-use online application process! You can apply for coverage as soon as tomorrow morning! We have flexible terms so you can get bonded quickly without having to wait weeks or months for approval.
Click here to start applying for your Contractors Bond through Swiftbonds!
Why is the Contractors License Bond required?
Businesses must purchase a bond to activate their license or permit. This guarantees that if the business fails to comply with licensing and permit laws, they will be compensated by the surety company for any damages incurred due this negligence. See a Colorado Oil and Gas Conservation Commission – Form 3 – Surface – Rule 703 Bond.
How does a Contractors License Bond work?
Getting a Contractors License Bond means you agree with the entity requiring it, called the obligee. Your surety company agrees to cover for you in case your clients or public make claims against their contract and need payment from your bond. If there’s ever any problems on either side of this agreement, only then will we get involved so that both parties can be satisfied. Get a Colorado Private Occupational School Bond.
How much does a Contractors License Bond cost?
Contractors License Bond is a type of surety bond that varies in cost and depends on the credit score of the applicant. Sometimes, personal or business financials may be required depending on what surety amount is needed for bonding purposes.
Can I get a Contractors License Bond with bad credit?
Swiftbonds offers a wide-range of approvals, regardless of credit history or bad credit. One key factor in our success is that we are able to work with 99% of applicants who have been turned down elsewhere due to their poor financial standing. Our knowledgeable underwriting staff will make sure you get the lowest possible price for your bond no matter what personal circumstances may be preventing you from getting approved for other companies' bonds. Read a Colorado Self Insuring Employer Bond.
How to get your Contractors License Bond?
Would you like to know the first step in getting your Contractors License Bond? It's super easy! Fill out our quick online application and get a no obligation quote today. Our Underwriters will contact you within an hour of submission, or come chat with them on the phone for help applying. Find a Jefferson County, CO – Street or Road Cut Permit Bond.