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If you are ready to secure an Illinois contractor license bond, you can submit a quote request and short application online. The surety company will review your personal credit details along with your application to determine your bond premium. Once you have this information, you can move forward to finalize the bond.
A Bond Claim Must be filed within 180 days from the last date of furnishing work or materials on the job. Must be served in writing on the Secretary of Transportation, with copies to the prime contractor, subcontractor and the bonding company. May need to be followed up by a lawsuit.
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Filing a Bond Claim The consumer will contact the surety directly to engage this process. Claims against a surety company may be filed by homeowners, any person damaged by a willful and deliberate violation of a construction contract or by employees damaged by the contractor's failure to pay wages.
A bond claim means the claimant is alleging you haven't fulfilled an obligation of yours that may be covered under the bond.
Illinois law requires Notaries to purchase and maintain a surety bond for the duration of their 4-year commission. A $5,000 bond is required for Notaries who wish to only perform notarial acts for signers that are physically in your presence.