Who needs a contractor license bond in Springfield, Ohio?
All contractors in Springfield must register with the city and post a $10,000 surety bond. Contractors must also provide the following:
- $300 for registration ($200 if submitted November 15-December 31)
- A completed income tax business questionnaire
- A complete list of subcontractors working on the project
- Evidence of liability insurance: $300,000 for each occurrence, combined single limit for bodily injury and property damage liability
- An Ohio worker’s compensation certificate
- A State of Ohio specialty contractor license if you’re an electrical, HVAC, fire detection/suppression, or gas piping installation contractor
If you’re unsure if this bond applies to you, call us at (888) 435-4191 and one of our agents will be more than happy to help. You can also check out our page on contractor license bonds in Ohio for state-specific information.
Get Your Springfield Contractor Bond:
How do contractor license bonds work?
The City of Springfield (obligee) sets the contractor license bond terms. The bond is a safeguard for clients, ensuring the contractor (principal) adheres to all applicable city and state laws while performing work in the city.
If the contractor breaks any part of the bond agreement, the surety company will initially cover any damages to other parties. These parties may include the city, state, or individual clients. The contractor is ultimately responsible for paying the surety back for any covered claims up to the full bond amount ($10,000).
To obtain your surety bond, you will pay a premium – a small percentage of the bond value. ZipBonds can issue contractor license bonds quickly at a typical premium rate of $100.
Frequently Asked Questions
Bonds often expire annually and match up with the registration renewal date. In Springfield, the registration renewal date is December 31. You can verify your specific bond renewal date on your bond form.
You may need additional bonds if your work covers more than one trade. Direct any questions about your bonding needs to ZipBonds by calling (888) 435-4191.
Apply for Your Contractor Bond in Springfield, OH
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.