Yes. Both classes use the same $50,000 bond amount and the same DPOR form. The only difference is which contract size or volume threshold puts you in each class. Not sure which class you fall into? Call us and we’ll confirm it before you file.
Virginia Contractor License Bond
A Virginia contractor license bond is required by the Department of Professional and Occupational Regulation (DPOR) before a Class A or Class B contractor license can be issued to firms that choose the bond option over a financial statement. The bond protects the Commonwealth and the contractor’s clients if the contractor fails to meet its financial obligations.
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Bond Overview
- Purpose: guarantees a contractor’s financial responsibility to DPOR
- Who Needs It: Class A and Class B contractors choosing the bond over a financial statement
- Regulating Body: DPOR Board for Contractors
- Required Amount: $50,000 (Class A and Class B)
Who Needs a Virginia Contractor License Bond?
Not every contractor needs this bond. It only applies if you’re licensed as Class A or Class B and pick the bond option.
- Class A contractors: contracts of $150,000+, or annual volume of $1 million+
- Class B contractors: contracts from $30,000 to under $150,000, or annual volume from $250,000 to $1 million
- General, electrical, plumbing, HVAC, roofing, and home improvement contractors in either class
Class C contractors are exempt. No bond, no financial statement, nothing to file on this front.
Your premium for purchasing a bond in Virginia will be a small percentage of the bond amount — typically 0.5% to 10%, depending on the bond type and your credit. Better credit means a lower rate. Since every applicant’s profile is different, the only way to know your exact premium is to get a quote.
costs
How Much Does It Cost?
The annual premium for a Virginia contractor license bond is a small percentage of the required bond amount established by the obligee. Multiplying that number by the premium rate assigned to the principal by the surety yields the annual premium cost.
Virginia contractor license bonds are subject to underwriting—specifically, an underwriting assessment of the risk the surety is taking on in agreeing to guarantee the bond. The best measure of that risk is the principal’s personal credit score.
A high credit score is a hallmark of financial responsibility and suggests that the risk to the surety is low. Low risk entitles the principal to a low premium rate. The opposite also is true. A low credit score is viewed as a sign of higher risk, and a high-risk level warrants a higher premium rate.
The premium rate for a well-qualified principal usually is in the range of 1% to 3%.
DPOR Contractor License Bond Requirements
The DPOR Board for Contractors writes the bonding rules for Virginia contractors. Here’s what applies:
- DPOR Board for Contractors — regulates licensing under Virginia Code Chapter 11 (dpor.virginia.gov/Boards/Contractors)
- Bond amount — fixed at $50,000 for both Class A and Class B
- Filing — submit the original bond using DPOR’s official form (A501-27BOND)
- Alternative — a financial statement, CPA review, or CPA audit works instead of the bond
You can also start your license application on this Surety Bonds Agent page if you’re not yet sure which bond your project needs.
step by step guide
How to Get a Contractor License Bond in Virginia?
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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.
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Submit a Quick Application
Complete a short online form. It only takes a few minutes, with no extra paperwork or long verification steps.
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Get Approved & Receive Your Bond
Get fast approval and receive your bond instantly by email. Your document is ready to use right away.
Getting bonded is fast once your paperwork is straight. Here’s the process:
- Confirm your license class first. Class A and B need the bond; Class C doesn’t.
- Pick the $50,000 bond instead of submitting a financial statement.
- Get DPOR’s official bond form signed by a licensed surety.
- File the original bond with your license application at the DPOR Board for Contractors.
faq
Virginia Contractor License Bond FAQ
Do Class A and Class B contractors file the same bond?
Can a contractor hold a license without a bond in Virginia?
Yes. Class C contractors don’t need a bond or a financial statement at all. Class A and Class B contractors can also skip the bond by submitting a financial statement, a CPA-reviewed statement, or a CPA audit instead. Not sure which route fits your business? Call us and we’ll walk through both options with you.
Is the Virginia contractor bond the same for every specialty trade?
Yes, within a license class. Electrical, plumbing, HVAC, roofing, and general contractors licensed as Class A or Class B all use the same $50,000 bond amount and the same DPOR form. The bond amount is tied to your license class, not your trade.
Where does the Virginia contractor license bond get filed?
The bond goes to the DPOR Board for Contractors, filed on their official bond form (A501-27BOND). It’s submitted along with your license application, not separately. Need help completing the form? We can prep it with you before you submit.
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