Who needs a contractor license bond in Sherwood?
Sherwood, Arkansas, requires contractors working within city limits to be licensed and bonded. The contractor license bond amount is $10,000 for building trade contractors and builders that construct, repair, or erect buildings where a permit is required.
Contractors that perform right-of-way work must have an additional permit, and those working on land-altering construction activities need a grading permit. The Sherwood Permits & Planning Division handles permitting duties and code enforcement. Reach out to this division for details on requirements for your specific project.
Get Your Sherwood Contractor License Bond:
How does a Sherwood contractor license bond work?
This surety bond protects the City of Sherwood (obligee) against financial losses due to failure on the contractor’s (principal’s) part. If the contractor fails to follow all state and local laws, it could result in poor financial decisions, physical damages, or unethical business practices that lead to financial loss for the obligee.
The surety issues the bond, which guarantees the contractor’s work performance. If someone files a valid claim on the bond, the surety may initially cover the costs to settle it. Later, however, the contractor must pay back the surety in full.
You will pay an annual premium to obtain your bond, which usually is $100 per year. Check out our page on contractor license bonds in Arkansas for more information.
Apply for Your Contractor License Bond in Sherwood, Arkansas
ZipBonds offers the fastest and most secure option for getting bonded. Our all-digital platform is intuitive and straightforward. Apply online, email email@example.com 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.