Oklahoma Contractor License Bond
What is an Oklahoma contractor license bond?
Oklahoma has a statewide license bond requirement for certain contractor classifications. Several cities also have requirements of their own. Contractor license bonds ensure that the contractor faithfully complies with state and local regulations and completes all work in the agreed-upon time frame.
Get Your Oklahoma Contractor License Bond:
Contractor License Bond Requirements in OK
Electrical, plumbing, and mechanical contractors must get bonded at the state level. The cities of Enid, Midwest City, Oklahoma City, and Tulsa have additional bonding requirements for certain contractor types. The bond amounts for the statewide and city-specific requirements are as follows:
- Electrical, plumbing, and mechanical contractors: $5,000
- Contractor: $10,000
- Concrete contractor: $5,000
- Fence contractor: $1,000
- Sidewalk contractor: $2,000
- Sign contractor: $5,000
- Sprinkler contractor: $2,500
- Sidewalk and Driveway Contractor: $5,000
State Non Residents
Non-resident contractors aiming to work in Oklahoma must obtain a non-resident contractor bond. The bond amount for this contractor type isn’t fixed but calculated by the following:
- Projects below $100,000: Three times the tax liability of all Oklahoma-based contracts
- Projects above $100,000: 10% of the contract amount
Learn more about how contractor license bonds work in our complete guide.
Frequently Asked Questions
While the total bond amount may vary from $1,000 to $10,000, the contractor will only pay a small fraction of this amount annually. Their “premium” may range from 1%-3% if they have excellent credit. With a lower credit score, the premium may cost up to 10%.
The specific bonding requirement and other stipulations will become apparent as you apply for your contractor’s license through the Oklahoma Construction Industries Board. Licensing requirements vary by location and contractor type, but these are the most common:
- Obtaining liability and worker’s compensation insurance
- Passing relevant examinations
- Paying applicable fees
- Providing proof of industry experience
In many cases, you can still get bonded with poor credit. As detailed above, the main downside is paying a higher premium for your license bond.
Get Your Contractor License Bond in Oklahoma
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.