Contractor bond cost
Various cities and contractor classifications in Georgia require contractors to post surety bonds prior to completing work. Applicants should verify their required bond amount with the city and/or government entity in charge of licensing and registration for their classification prior to bonding.
Why this bond
Contractor bonds in Georgia ensure that principals (contractors) complete construction work in accordance with the laws of the city/state. This includes adhering to all building codes, paying all taxes as they are due and more. Typically, these bonds protect the city/state and/or any individual from financial loss as a result of the principal’s noncompliance up to the full amount of the bond. In the event of a claim, the surety will pay up to the amount of the bond to settle, at which point the principal must reimburse the surety for all damages paid out.
All Georgia contractor bonds have unique terms, so applicants should be sure they understand the fine print of their surety bond contracts during the bonding and licensing processes. Take the first step toward becoming licensed in Georgia by purchasing the contractor bond you need quickly, easily and accurately!
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