Who needs a contractor license bond in Passaic, New Jersey?
The following contractors must become licensed to work in Passaic, New Jersey:
- Mechanical contractors
- Construction contractors
- Repair contractors
- Installation contractors
Mechanical contractors in Passaic must also submit either a certificate of liability insurance or a surety bond in the amount of $25,000. You can find a complete list of contractor requirements in Chapter 107 of the Passaic municipal code.
Have questions about this bond? 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 New Jersey if you’re looking for state-specific information.
Get Your Passaic Contractor License Bond:
How does a contractor license bond work?
A contractor license bond ensures that contractors will fulfill all their obligations to clients. By signing the bond agreement, contractors hold that they will abide by all standards and regulations of the obligee (City of Passaic).
Clients can file a claim for damages if a contractor’s work fails to meet any part of the bond agreement. The surety initially pays out approved claims, but contractors must ultimately pay back these claims in full, up to the total bond amount.
To acquire your bond, you’ll pay a percentage of the penal sum, called a premium. ZipBonds can often issue these bonds instantly, with premiums starting at just $100.
Frequently Asked Questions
The renewal period and date will be listed on your bond form. Typically, bond terms last for one year. Your bond, permit, and/or license must stay up to date to remain in good standing with the city.
Multiple bonds are occasionally required, such as a local and state bond, or when you work in various trades. Read your municipality’s requirements carefully to guarantee that you fully abide by the law.
Apply for Your Contractor Bond in Passaic, NJ
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.