What is a Utah contractor license bond?
If you seek a contractor’s license in Utah but don’t meet the state’s financial responsibility requirements, you’ll need a contractor license bond. You won’t meet the financial responsibility requirements if any of the following statements are true:
- You’ve been delinquent in paying a debt or obligation in the last two years. This includes state or federal income taxes, payroll withholding, unemployment, workers’ compensation, liability insurance premiums, debts to subcontractors or suppliers, the Residence Lien Recovery Fund, credit cards, banks, alimony, or child support.
- You’ve filed bankruptcy in the last seven years or had judgments entered against you in the previous five years.
- The current value of all your owned real and personal property doesn’t exceed owed liabilities.
Get Your Utah Contractor License Bond:
Types of Contractor License Bonds in Utah
If any of these are true, you may need one of these contractor license bonds:
- General Building (B100) & General Engineering Contractors (E100): $50,000
- Residential & Small Commercial Contractors (R100): $25,000
- All other license classifications: $15,000
The Division of Occupational and Professional Licensing (DOPL) handles bonding in Utah. Contractor license bonds give your state and clients more financial security, ensuring that your work adheres to the Utah Construction Trades Licensing Act (Title 58, Ch 55). In the case of a claim against your work, bonds may compensate clients who suffer losses at your hand.
Learn more about how contractor license bonds work in our complete guide.
Get Your Contractor License Bond in Utah
ZipBonds is 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.