Who needs a contractor bond in Woonsocket, Rhode Island?
Right-of-way contractors working in Woonsocket must post a permit bond in an amount determined by the Director of Public Works. These contractors must also provide the following:
- A permit to occupy the public right-of-way ($15 for two weeks)
- Certificates of minimum insurance with amounts determined by the director, including: automobile, property damage liability, bodily injury liability, workmen’s compensation insurance
You will find a complete list of requirements for right-of-way contractors in Woonsocket in the city’s permit manual.
If you’re not sure if this bond applies to you, give us a call at (888) 435-4191 and one of our agents will be more than happy to help. You can also check out our page on Rhode Island license bonds for state-specific information.
Get Your Woonsocket Contractor Bond:
How do contractor bonds work?
The City of Woonsocket (obligee) sets the contractor bond terms. The bond is a safeguard for clients, ensuring the contractor (principal) adheres to applicable laws and regulations 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 total bond amount.
You’ll pay a premium, or a small percentage of the bond amount, to obtain your bond. ZipBonds can often get you bonded the same day you apply, with premiums starting at $100.
Frequently Asked Questions
Your bond renewal date will be listed on the bond form. You must keep your bond and registration up to date to remain in good standing as a contractor in Woonsocket and the State of Rhode Island.
The bond amount is the total dollar value a client can receive from a bonded contractor after filing a claim. However, if damages exceed this amount, clients may seek other forms of compensation. As a contractor, doing quality work and answering client complaints immediately is the best way to avoid claims.
Apply for your Contractor Bond in Woonsocket, RI
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.