Contractor Registration Bond – Midland, TX
Who needs a contractor registration bond in Midland, Texas?
All general contractors who build and/or renovate properties in Midland must be registered with the city and post a $10,000 surety bond.
These contractors must also complete the contractor’s bond application and information sheet. These should be emailed to Permit Requests.
Complete contractor requirements have been posted by the Midland Building Department.
Call ZipBonds at (888) 435-4191 to apply for your bond today! You can also check out our page on Texas contractor license bonds for state-specific information.
Get Your Midland Contractor Bond:
How do contractor bonds work?
A contractor license bond guarantees that clients will receive satisfactory work from contractors. By agreeing to the bond, contractors state that they’ll follow the standards and regulations of their obligee (e.g., the City of Midland).
Clients can file a claim for compensation if a contractor breaks their bond contract. The surety will pay damages to clients immediately if a claim is approved. However, contractors will be held responsible for paying back all approved claims against them – plus interest and fees.
You will pay a premium, a small percentage of the total bond amount, to purchase and post your bond. ZipBonds often issues these types of bonds instantly for as low as $100 per year.
Frequently Asked Questions
How long will my bond cover the work?
The initial bond term is typically one calendar year. You must keep your bond active by renewing it annually to continue working on projects. Your official bond renewal date will be listed on your completed bond form.
What if a claim exceeds the bond amount?
The bond limit, or penal sum, is the highest dollar value a client can receive for damages by filing a claim on a contractor’s bond. If damages exceed this amount, a client may seek alternative forms of compensation. Contractors should avoid claims at all costs by finishing work according to contract terms and communicating openly with clients if conflicts arise.
Apply for Your Contractor Bond in Midland, TX
ZipBonds offers the fastest and most secure option for getting bonded. Our all-digital platform is intuitive and straightforward. Apply online, email support@zipbonds.com or call (888) 435-4191 to speak with an agent directly.
About ZipBonds.com
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.