Who needs a contractor license bond in Benton?
Residential contractors in Benton must comply with A.C.A 17-25-501 and the 2021 Arkansas Fire Prevention Code. Before starting your first project, you may need to request a permit and submit a plot plan to the Benton Community Development Department.
Commercial contractors must be licensed by the City of Benton and the State of Arkansas. They must also comply with the Arkansas Fire Prevention Code and Arkansas Engineering and Architectural Acts (A.C.A. 17-30-104; A.C.A. 17-15-102). An engineer or architect registered in Arkansas must prepare all documents. Contractors that need a license may also need a $2,000 bond.
Get Your Benton Contractor License Bond:
How does a contractor license bond work?
A contractor license bond is a three-party contract between the obligee (City of Benton), principal (contractor), and surety. The bond protects the obligee if the principal fails to abide by the law or breaks the surety agreement. The injured party can file a claim against the bond for compensation for their losses. The surety may settle the claim for the principal upfront, but the principal must later repay them in full.
Avoid claims against your bond by fulfilling all obligations in your bond contract and following local and state laws for your industry. To obtain your bond, you will pay a premium – a small percentage of the total bond amount of $2,000. You will likely pay $100, which is the minimum premium amount on this particular bond.
Check out our page on contractor license bonds in Arkansas for more information.
Get Your Contractor License Bond in Benton, Arkansas
ZipBonds offers the fastest and most secure option for getting bonded. Our all-digital platform is intuitive and straightforward. Apply online, email firstname.lastname@example.org or call 888.435.4191 to speak with an agent directly.
Founders Ryan Swalve and Zach Mefferd formed the vision for ZipBonds.com when they realized how overly complicated it was to help clients place surety. The frustration of being unable to incorporate the technology they’d used in other insurance-focused projects left them thinking “there has to be a better way.”
Fast forward a couple of years, and that better way is the impetus of everything we do at ZipBonds. We constantly look for innovative ways to improve the bonding process for our clients and agents. Our team comprises individuals who understand all angles of surety – for companies, agencies, and individuals. Incorporating everyone’s point of view to improve the process while simultaneously integrating cutting-edge technology is what sets our business apart.