Who needs a contractor license bond in Lino Lakes?
All contractors in Lino Lakes must post a $5,000 bond, according to section 605.05 of the city contractor code. Other requirements for contractors include:
- Obtaining a contractor license through the city. The application must include the type of work being performed.
- Providing insurance with minimum limits of $100,000 per person, $300,000 per accident for bodily injury, and $50,000 for property damage.
Need help? Call ZipBonds at (888) 435-4191 to discuss your bonding requirements with one of our agents. You can also visit our page on contractor license bonds in Minnesota for statewide information.
Get Your Lino Lakes Contractor License Bond:
How does a contractor license bond work?
When obtaining this bond, the principal (contractor) enters into an agreement with the obligee (City of Lino Lakes) and the surety company. A contractor license bond guarantees the bonded contractor complies with applicable licensing and permit laws. If they don’t, any parties that suffer as a result can file a claim against the bond for compensation. The surety company may initially cover any damages incurred, but the principal must later repay them in full.
To obtain your contractor bond in Lino Lakes, you’ll pay a premium, a small percentage of the bond amount. ZipBonds can often issue bonds quickly at a typical annual rate of $100.
Frequently Asked Questions
Apply for Your Contractor Bond in Lino Lakes, MN
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.