Who needs a contractor license bond in Little Rock?
The City of Little Rock’s Department of Planning & Development requires contractor license bonds in many cases. The bond requirement is $10,000 and applies to the following contractor licenses:
- General contracting
- Electrical contracting
- Concrete and paving
You may need this bond before your contractor’s license is approved in Little Rock. Other contractors may also need a contractor license bond. Reach out to the Department of Planning & Development directly for details.
Get Your Little Rock Contractor License Bond:
How does a contractor license bond work in Little Rock, AR?
A contractor license bond is a three-party agreement between an obligee, a principal, and a surety:
- Obligee: City of Little Rock, Arkansas
- Principal: Bonded contractor
- Surety: Organization that issues and backs the bond
If the principal fails to abide by the law or fulfill the bond contract’s terms, they could cost another party money. That party can file a claim for their losses to receive compensation. If the claim is approved, the surety may step in to settle the claim upfront. Then they’ll hold the principal liable for full repayment.
Your bond premium is a small percentage of the bond requirement – typically 1% ($100). For this specific bond, pulling credit is not required.
Get Your Contractor License Bond in Little Rock, 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.