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.
Seattle Washington Continuous Contractor's Surety Bond
Category:
State:
Washington
City:
Seattle
Control #:
WA-0069-CPK
Format:
PDF
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Description
How to fill out Washington Continuous Contractor's Surety Bond?
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FAQ
What Do Washington Surety Bonds Cost? Surety bonds generally cost 1-15% of the required bond amount. Costs vary significantly depending on the bond amount you need and your rate (which is the percentage of the full bond amount you must pay).
When a person or business needs to get bonded in Washington, they can visit a surety company's offices or website and fill out an application. The application will ask for your profession, the type of bond you need, information to carry out a credit check and references for your business.
How to get a Washington contractor license Register 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.
What Is the Cost for a Washington State Contractor Bond? Your Washington Contractor License Bond Cost per License TypeLicense TypeBond AmountStarting PriceGeneral contractors$12,000$120Specialty contractors$6,000$100Electrical / telecommunications contractors$4,000$1009 more rows
General contractors require a $12,000 surety bond, and specialty contractors need a $6,000 bond that they must post to the Washington State Dept. of Labor & Industries (L&I). Electrical/telecommunication contractors must submit a $4,000 surety bond when applying for a license from the L&I.
Washington surety bonds are most commonly issued in the licensing and permit professions, contractors when completing construction projects, and court bonds to ensure fulfillment of required court procedures.
The Washington Contractor License surety bond can cost anywhere between $100 to $1,260 per year. Insurance companies determine the rate based on a number of factors including your customer's credit score and experience.