How much is a CCB bond?

The $15,000 California Contractor License surety bond costs between $102 to $450 per year. Insurance companies determine the rate based on a number of factors including your customer’s credit score and experience….$15,000 California Contractor License Bond Cost.

Who benefits from a surety bond?

Surety bonds guarantee the obligee the lowest compliant bidder will perform the work for the quoted price. It assures the work will be completed as per the contract. Obligees are ensured suppliers will be paid regardless of financial difficulty at the contractor’s end.

Where to file a surety bond in Oregon?

You can file your name at the Secretary of State website. Or you can call 503-986-2200. An Oregon CCB Surety Bond is a type of license and permit surety bond required when becoming licensed as an Oregon Contractor. An Oregon CCB Surety Bond is not the same as insurance; rather, it is a protection for the state of Oregon.

What do you need to get a CCB license in Oregon?

To get an Oregon CCB License, you’ll need to: Determine the types of structures you’ll work on. Complete pre-licensing training. File your business name. Purchase a CCB surety bond. Purchase insurance and workers compensation.

What can a surety bond do for You?

A surety bond is a promise by a bonding company to pay all or a portion of a CCB final order if a contractor fails to pay the order in order to protect consumers. A property owner can file a CCB complaint against a contractor for breach of contract or improper work.

What happens if a contractor fails to pay a surety bond?

​A surety bond is a promise by a bonding company to pay all or a portion of a CCB final order if a contractor fails to pay the order in order to protect consumers. A property owner can file a CCB complaint against a contractor for breach of contract or improper work. If the CCB orders a contractor to pay money to…