In South Carolina, most contractors are licensed at the state level, which requires the purchase of a contractor license bond.
South Carolina’s “Little Miller Act,” the state’s version of the federal Miller Act, requires both performance bonds and payment bonds for all public works projects, regardless of project size. There is a statutory requirement for these bonds to be in an amount equal to 100% of the contract value.
Although private construction projects are not subject to South Carolina’s Little Miller Act, private project owners may require their contractors to furnish both performance and payment bonds, especially for higher value projects. While South Carolina’s Little Miller Act mandates bid bonds from contractors vying for a job through a competitive procurement process, private construction project owners have the option of requiring them as well.
Other construction bonds that contractors operating in South Carolina may need to purchase include:
- Maintenance bonds
- Subdivision/site improvement bonds
- Contractor license bonds
- Supply bonds
- Solar decommissioning bonds
- Right of Way bonds
