Who needs a contractor license bond in Madison, Mississippi?
Residential construction contractors working in Madison, Mississippi, must post a surety bond with the city. The bond amount is $5,000 or 0.5% of the proposed work, whichever is greater. Additional requirements include:
- Being licensed with the State of Mississippi when required by state law
- Submitting two sets of plans with full details
- Submitting plans to be approved by the homeowners association if necessary in the work area
Need help with your bond? Give us a call at (888) 435-4191, and an agent will gladly assist you in the process. You can also check out our page on contractor license bonds in Mississippi for state-specific information.
Get Your Madison Contractor License Bond:
How does a contractor license bond work?
A contractor license bond ensures that contractors fulfill all obligations to clients and follow the standards and regulations set by the obligee (City of Madison). If a contractor’s work is faulty or insufficient, clients can submit a claim to receive compensation for damages. The surety initially pays out approved claims, but contractors must later repay them up to the full bond amount.
You don’t have to pay the full bond to obtain your contractor license bond. Instead, you’ll pay a premium, which is a small percentage of the bond. ZipBonds offers many contractor bonds for just $100 and can issue them instantly – without pulling credit information.
Frequently Asked Questions
Bonds often have one-year terms. The renewal deadline is typically a specific date each year (e.g., January 1). Remember to renew your bond by the date listed on the bond form and keep your license or permit current to continue operating in your state, city, or county.
A single license bond is usually enough for contractors. The requirements set forth by a municipality typically cover everything you need to work in that city or county. In some cases, however, local and state bonds are both necessary. Read municipality requirements carefully to ensure you’re compliant.
Apply for Your Contractor Bond in Madison, 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.