City of North Little Rock Contractor License Bond

This surety bond protects the City of North Little Rock, the obligee, against any financial losses due to failure on the principal’s (contractor’s) part. If you – as the contractor – don’t follow all state and local laws, make poor financial decisions, or act unethically, the obligee may file a claim on your bond. 

The surety is the party that issues the bond, which guarantees your contracted work. The surety will initially pay out claimed losses to clients if you fail to meet obligations. Ultimately, however, you are responsible for repaying your surety in full. 

To obtain a contract license bond, you will pay a premium, which generally is $100 annually.

Expect to receive a better premium rate with excellent financial standing. Check out our page on contractor license bonds in Arkansas for more information.

To obtain a North Little Rock contractor license, you must first decide if you need a commercial or residential license. 

Commercial License

Follow these steps to get your commercial license:

• Fill out the contractor application and pay the $100 filing fee.
• Include three written references to the city’s reference forms.
• Pass the Arkansas Business and Law exam.
• Submit a $10,000 surety bond.
• Provide an up-to-date financial statement. If your business is a corporation or LLC, include a copy of your Articles of Incorporation.
• If your business has employees besides yourself, submit proof of worker’s compensation.

Residential License

Residential contractors have the same licensing requirements as commercial contractors with one exception. They must also submit a current balance sheet that is less than one year old, showing a positive net worth.