Who needs a contractor license bond in Lee’s Summit, Mississippi?
The City of Lee’s Summit requires all contractors working in a public right-of-way to obtain a contractor bond to get approved for a city permit. The bond requirement ranges from $5,000 to $20,000, depending on the proposed work. Work proposals should be submitted to Lee’s Summit Development Services Department.
Additional requirements for right-of-way contractors include:
- A Certification of Insurance
- Endorsements listing the City of Lee’s Summit as an additional insured for Commercial General Liability and Auto Liability
- Proof of workman’s compensation insurance
Need help with your right-of-way bond? Give us a call at (888) 435-4191 and one of our agents be glad to assist you. You can also check out our page on contractor license bonds in Missouri for state-specific information.
Get Your Lee’s Summit Contractor License Bond:
How does a contractor license bond work?
A contractor bond guarantees contractors fulfill their obligations to clients. In signing the bond, contractors agree to follow the standards and regulations of the obligee (City of Lee’s Summit).
Clients can file a claim for compensation if a contractor’s work does not meet the stipulations of the bond agreement. The surety initially pays out an approved claim, but contractors are ultimately responsible for repaying the surety in full. A claim could cost a contractor as much as the total bond amount.
To acquire your surety bond, you’ll pay a premium (a small percentage of the penal sum). ZipBonds often issues contractor license bonds instantly for as low as $100.
Frequently Asked Questions
Bonds often expire annually. You must renew your bond by the date listed on your bond form and keep your license current to continue operating legally as a contractor.
The requirements dictated by a municipality usually include everything you need to work in that area. In some cases, both a local and a state bond may be necessary. Read municipality requirements carefully to maintain compliance in your area.
Apply for Your Contractor Bond in Lee’s Summit, MS
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.