Who needs a contractor bond in Lafayette, IN?
The City of Lafayette, Indiana, requires a contractor license bond for several contractor types. These are as follows, with the corresponding bond amounts:
- Electric contractors: $1,000 bond
- Right-of-way (new sidewalks and replacements): $1,000 bond
- Right-of-way (street cuts/excavations and oversize vehicles): $10,000 bond
- Building, grease trap, sewer repair, and water tap contractors: $5,000 bond
Not sure which bond applies to you? Call ZipBonds at (888) 435-4191 to speak with one of our agents. You can also check out our page on contractor license bonds in Indiana for statewide information.
Get Your Lafayette Contractor License Bond:
How does a contractor license bond work?
A contractor license bond protects clients from damages due to a contractor failing to fulfill the terms of the bond agreement. The bond guarantees that contractors abide by all applicable regulations and codes of the obligee (the City of Lafayette). If the contractor fails to follow any of the guidelines in the bond contract, clients can file a claim to receive compensation for their losses.
To obtain a contractor bond in Lafayette, you’ll pay a premium – a small percentage of the required bond amount. ZipBonds can issue many contractor bonds quickly, at a typical premium of $100.
Frequently Asked Questions
You can avoid claims on your bond by striving to work efficiently, ethically, and professionally. Address any customer complaints immediately – before they become claims.
In general, Indiana leaves bonding requirements to local municipalities. In essence, if you meet the Lafayette requirements, you are likely ready to begin work. You can contact us if you’re unsure or have any surety bond-related questions.
Apply for Your Contractor Bond in Lafayette, IN
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.