Who needs a contractor license bond in Winston-Salem, North Carolina?
Contractors constructing or repairing streets, sidewalks, bridges, and the like in Winston-Salem must obtain a $20,000 contractor license bond. Those performing work deemed “extensive” by the public works department must acquire a $50,000 bond.
Additional requirements for construction contractors include:
- Obtaining a license
- Paying the required tax
Unsure about the details? Call ZipBonds at (888) 435-4191, and one of our agents will be happy to help you with the bonding process! You can also check out our page on contractor license bonds in North Carolina for state-specific information.
Get Your Winston-Salem Contractor License Bond:
How does a contractor license bond work?
A contractor license bond ensures contractors fulfill all obligations to clients. By signing the bond agreement, contractors state that they will abide by the standards and regulations of the obligee (City of Winston-Salem).
Clients can file a claim for damages if a contractor’s work fails to meet all parts of the agreement. The surety initially pays out approved claims, but contractors are ultimately responsible for paying back claims in full.
To acquire your bond, you will pay a small premium. ZipBonds often issues these bonds for as low as $100 per year.
Frequently Asked Questions
The license bond in Winston-Salem lasts twelve months before expiring unless otherwise specified. The renewal date will be listed on the bond form. Your license and bond must stay up to date for your work to be legal.
Typically, contractors only need one contractor license bond to work in a city or county. However, there may be some cases where local and state bonds are both required. Read your municipality’s requirements thoroughly to ensure you follow all applicable laws.
Apply for Your Contractor Bond in Winston-Salem, NC
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.