Who needs a contractor license bond in Richland County, SC?
Construction contractors in Richland County must post a surety bond in the amount of 125% of the estimated cost of improvements. The county outlines the process of submitting a bond to the Department of Public Works. Construction contractors must also provide the following:
- A permit application for all construction projects
- A “Section 5” business license
Contractor requirements for Richland County are listed on pages 3 and 8 of the Business License Instructions packet.
Call ZipBonds at (888) 435-4191 to apply for your bond today! You can also visit our page on South Carolina contractor license bonds if you seek state-specific information.
Get Your Richland County Contractor Bond:
How do contractor bonds work?
Contractor license bonds ensure that contractors meet all applicable regulations and codes of their obligee (Richland County). The bond is a safeguard for clients.
The contractor acts as the principal in the bond contract. The bond guarantees a client compensation if the contractor breaks license and permit laws that result in damages. The surety may cover any costs to settle a bond claim upfront, but the contractor is ultimately responsible for paying back the surety over time.
Contractors don’t need to pay the full bond amount to acquire their bond. They will instead pay a premium, a small percentage of the bond amount. ZipBonds can issue these bonds quickly for just $100.
Frequently Asked Questions
Your initial bond will typically last for the calendar year you post it. You must then renew your bond each consecutive year for the duration of your project. Keep your bond updated to avoid fines and compliance issues in your location.
The bond amount is the highest dollar value a client can receive from a bonded contractor. However, if work-related damages exceed that amount, clients may seek other forms of compensation. As a contractor, you can typically avoid claims by performing your work with excellence and communicating well with clients.
Apply for Your Contractor Bond in Richland County, SC
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.