General Contractor Bond – City of Olmos Park, Texas
Who needs a general contractor bond in Olmos Park, Texas?
All general contractors in Olmos Park must post a $5,000 surety bond (except homeowners working on their own property). These contractors must also provide the following:
- A permit before undertaking most building activities (see Work Exempt from Permits)
- Plans for most building activities
- Compliance with zoning/building codes
Complete contractor requirements are posted by the City of Olmos Park.
Don’t hesitate to reach out to ZipBonds with any questions by calling (888) 435-4191. We’d be happy to walk you through the whole bonding process! You can also check out our page on Texas contractor license bonds for state-specific information.
Get Your Olmos Park 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 Olmos Park).
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 my 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 Olmos Park, 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.