Who needs a contractor license bond in Rock Hill, South Carolina?
All residential specialty construction work worth over $5,000 requires a surety bond. The Residential Builders Commission must be listed as the bondholder, and the bond amount is determined according to the type of work and estimated cost.
Need to purchase or renew your bond ASAP? Give us a call at (888) 435-4191, and we’ll help you get bonded in a zip! You can visit our page on South Carolina contractor license bonds if you’re seeking state-specific information.
Get Your Rock Hill Contractor Bond:
How do contractor bonds work?
Contractor bonds ensure that contractors meet all applicable regulations and codes of the obligee (City of Rock Hill). 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 licensing 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 value. 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 for each consecutive year for the duration of your project. Keep your bond updated to avoid fines and compliance issues in your location.
The bond value is the maximum dollar amount a client can obtain directly from a contractor. If damages exceed that amount, clients may seek other methods of compensation. As a contractor, you should avoid claims at all costs by working professionally and efficiently.
Apply for Your Contractor Bond in Rock Hill, 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.