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Oregon Contractor License Bonds

At Surety Bonds Agent, we offer a full range of surety bonds nationwide through an extended carrier network. Continue below to learn more about Oregon contractor license bonds. If you have additional questions or want to explore bonding solutions for your business, speak with one of our knowledgeable surety bond experts.

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about bond type

What Is a Contractor License Bond?

An Oregon contractor license bond is a surety bond designed to provide a certain level of financial protection for the customers of a licensed contractor.

img Who Needs One?

In Oregon, both general and specialty contractors must be licensed by the Oregon Construction Contractors Board. Separate licenses are required for residential and commercial contracting. Purchasing the appropriate Oregon contractor license bond is a requirement for licensure. Contractors licensed for both residential and commercial work must purchase both a residential and a commercial license bond.

The bond amount differs depending on the type of license. Residential general contractors, for example, must provide a bond with a face amount of $20,000, while the highest bond amount for general commercial contractors is $75,000.

img How Does a Contractor License Bond Work?

An Oregon contractor license bond is a legally binding contract among three parties:

  • The “obligee” requiring the bond is the Oregon Construction Contractors Board.
  • The “principal” purchasing the bond is the contractor.
  • The “surety” is the party guaranteeing the bond.

Any unlawful or unethical conduct by the principal that violates the terms of the bond and causes the project owner a financial loss is grounds for a claim for damages. The process begins with the injured party lodging a complaint against the principal with the obligee. If the obligee finds against the principal, the principal will be required to pay the claim.

As the bond’s guarantor, the surety will pay the claim on the principal’s behalf if the principal cannot or does not pay it promptly. But the obligation to pay valid claims still belongs to the principal, not the surety. Therefore, the principal must repay the debt to the surety. Failing to do so can result in the surety taking legal action against the principal to recover the funds.

costs

How Much Does It Cost?

The annual premium rate for an Oregon contractor license bond is set by the surety through an underwriting assessment of the risk to the surety—specifically, the risk of not being repaid for claims paid on behalf of the principal. The underwriters use the principal’s personal credit score as a measure of risk. The higher the credit score, the lower the risk to the surety is assumed to be, and the lower the premium rate. Conversely, a low credit score indicates a higher risk level and warrants a higher premium rate. The premium rate for a well qualified principal typically is in the 1% to 3% range.

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Choose Bond by States

We proudly serve all 50 states, offering a full range of surety bonds. To buy surety bonds online:

  1. Choose your state
  2. Choose the bond type you need
  3. Apply online to request a free quote

There’s no obligation, and we can often help you get bonded in 24 hours or less.

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step by step guide

How Do Oregon Contractor License Bonds Work?

  • Choose Your Bond Type

    Select the bond you need — commercial, contract, or any specialized bond. We help you find exactly what is required in your state.

  • Submit a Quick Application

    Complete a short online form. It only takes a few minutes, with no extra paperwork or long verification steps.

  • Get Approved & Receive Your Bond

    Get fast approval and receive your bond instantly by email. Your document is ready to use right away.

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Why Work With Us?

Easy Application Process

Simply fill out our convenient online application form to get started.

Extensive Carrier Network

We work with a wide range of carriers to provide many options to our clients.

Competitive Rates

As an independent agency, we can leverage our carrier network to find the most competitive rates for the bonds you need.

Quick Turnarounds

We work to get you bonded as quickly as possible, often in 24 hours or less.

Exceptional Service

Our experienced surety bond agents provide personalized assistance to help you understand your bonding requirements and options.

Call us Today!

And get a free consultation.

866-362-6637
Testimonials

What our customers say about us

Super easy process. I found the bond I needed in minutes and received the approved document the same day. Great experience overall.

Emily R., Business Owner
Contractor

The application was fast, the support team was responsive, and the pricing was clear. Very smooth and professional. Everything was explained clearly, and I appreciated how quickly I received my bond.

Jason M., Contractor
Small Business Owner

Super easy process. I found the bond I needed in minutes and received the approved document the same day. Great experience overall.

Emily R., Business Owner
Oberman & Oberman

The application was fast, the support team was responsive, and the pricing was clear. Very smooth and professional. Everything was explained clearly, and I appreciated how quickly I received my bond.

Jason M., Contractor
Oberman & Oberman

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