This Washington Continuous Contractor's Surety Bond provides protection to individuals and the State of Washington in the event that a contractor fails to perform certain obligations under a contract. This Bond is required to secure a Certificate of Registration from the State of Washington.
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The most common way to buy bonds is either through a broker, mutual fund, exchange traded fund, or directly from a government. You can buy bonds through a broker, just like you can buy stocks and other investments. The bonds you buy are typically sold by investors.
Average Cost:Between $100 $360 per year for the $12,000 bond.
How to get a Washington Contractor LicenseRegister your business with the Washington Secretary of State.Complete a Business License Application online.Get your Employer ID number.Fill out a Contractor Registration Application and have it notarized.Provide the original proof of a Surety Bond and Liability Insurance.More items...
General and specialty contractors in Washington state are required to obtain a continuous contractor surety bond, under RCW 18.27. 040. The bond coverage for general contractors is $12,000 and for specialty contractors is $6,000.