Contractor bond cost
General and specialty subcontractors and contractors who conduct business within the State of Hawaii are required to post a surety bond. Bond amounts vary from applicant to applicant. Bond premiums are subject to underwriting. This means premiums are based on your personal credit report.
Why this bond
By posting a bond the principal guarantees to carry out business in full compliance with the provisions of Chapter 444 of the Hawaii Revised Statutes. This includes faithfully and promptly accounting for and paying all wages to employees. Specifically, this bond offers indemnity to protect all persons financially harmed by wrongful acts of the principal.
Contractor bond details
Bonds will remain continuous unless canceled by the surety. If the surety decides to cancel a bond, they must mail a cancellation notice to the State of Hawaii 30 days prior to the deemed cancellation date.
Become a contractor
Applicants must meet the following criteria to apply for a contractor license:
- Register with the Business Registration Division
- Have a good reputation
- Have workers’ compensation insurance and liability
- Have a designated Responsible Managing Employee (RME)
License applications must be submitted and filed by the 20th day of the month in which the application is sent. The following items must be attached to each application:
- Application fee
- Credit reports of each partner/officer/member/manager
- Financial statement
- Tax clearance
- RME appointment
- Entry registration
All licenses must be renewed by September 30 on even-numbered years.
Apply for your surety bond
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