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How Much Does an Arkansas Contractor License Bond Cost?
The cost of an Arkansas contractor license can range from $100 to $15,000, depending on the type of bond required. For a commercial contractor license or subcontractor registration, a $10,000 surety bond is needed. Residential roofing contractors in Arkansas must secure a $15,000 bond. Depending on your type of work, in lieu of a financial statement, you may need to post a bond amount ranging from $200,000 to $500,000.
Applicants can purchase their bond through an authorized Arkansas surety company rather than pay the full amount of the bond. The bond premium amount for a contractor in Arkansas ranges between 1% and 10% of the bond amount.
The premium amount for the bond is determined by several factors. These include the applicant’s business financials and experience, personal assets and credit scores. With many bond programs offered for a range of credit scores, we provide surety bonds to more than 99% of applicants.
A 1% to 3% premium rate applies to applicants with a 700 credit score or higher. A 3% to 5% rate applies to those with a score between 600 and 699. Applicants with a credit score of 599 or lower qualify for a 5% to 10% rate.
|
Surety Bond Cost Based on Credit Score |
||||
|
Surety Bond Name |
Surety Bond Amount |
Over 700 |
Between 600 - 699 |
Below 599 |
|
Arkansas Commercial Contractor License Bond |
$10,000 |
$100 - $300 |
$300 - $500 |
$500 - $1,000 |
|
Arkansas Residential Roofing Contractor Registration Bond |
$15,000 |
$150 - $450 |
$450 - $750 |
$750 - $1,500 |
|
Arkansas Subcontractors License Bond |
$10,000 |
$100 - $300 |
$300 - $500 |
$500 - $1,000 |
|
Arkansas Contractor Bond in Lieu of Financial Statement |
$50,000 |
$500 - $1,500 |
$1,500 - $2,500 |
$2,500 - $5,000 |
|
Arkansas Contractor Bond in Lieu of Financial Statement |
$200,000 |
$2,000 - $6,000 |
$6,000 - $10,000 |
$10,000 - $20,000 |
|
Arkansas Contractor Bond in Lieu of Financial Statement |
$500,000 |
$5,000 - $15,000 |
$15,000 - $25,000 |
$25,000 - $50,000 |
How to Get an Arkansas Contractor License Bond
1. Determine the Surety Bond You Need
Arkansas has bond requirements for commercial contractor licensing, subcontractor registration and residential roofing contractor registration. The Arkansas Contractors Licensing Board can provide you with additional information about contractor bond requirements.
2. Apply for Your Bond
To begin the straightforward process of buying your surety bond, fill out the online application. The application requires only a few minutes of your time.
3. Get a Quote
Most applicants receive an immediate bond quote after submitting their application. For more complex applications, applicants will receive a quote within 48 hours.
Andy planned to start a roofing contractor business and contacted us recently for the bond. He took advantage of our online application and got a quick quote. After paying the premium online, Andy received his new bond via email. Now, he has a residential roofing company in Little Rock.
4. Purchase Your Bond
After reviewing your bond quote, pay the premium online. We’ll email the bond to you quickly. Upon request, we can mail your bond to you as well.
If you have any questions or encounter any difficulties, our surety bonds experts are here to help you – contact us or call us at (877) 514-5146.
Start your contractor bond application. 100% money-back guarantee!
Contractor License Bond Requirements in Arkansas
The Arkansas Contractors Licensing Board is tasked with licensing and registering several types of contractors. Surety bonds are required for commercial contractors and residential roofing contractors and subcontractors in Arkansas.
Specifically, the commercial contractor license is required for those who complete $50,000 or more of work on a commercial project. This work includes both labor and materials. A commercial project is defined as any property other than single-family dwellings.
The residential roofing contractor registration is required for those who complete more than $2,000 of work. The work includes labor and material for roofing, roof decks and roofing sheet metal projects. The registration is not required for those with a residential remodelers or builders license.
The obligee for these surety bonds is the State of Arkansas. However, each municipality sets its own bond amounts and requirements, tailored to its specific jurisdiction and trade:
|
Surety Bond |
Bond Amount |
Premium |
|
$10,000 |
From $100 |
|
|
$15,000 |
From $150 |
|
|
$10,000 |
From $100 |
|
|
Arkansas Contractor Bond in Lieu of Financial Statement |
$50,000 |
From $500 |
|
Arkansas Contractor Bond in Lieu of Financial Statement |
$200,000 |
From $2,000 |
|
Arkansas Contractor Bond in Lieu of Financial Statement |
$500,000 |
From 5,000 |
|
City of Ashdown Contractor Bond |
$5,000 |
From $100 |
|
$10,000 |
From $100 |
|
|
$2,000 |
From $100 |
|
|
City of Clinton Contractor Bond |
$5,000 |
From $100 |
|
$10,000 |
From $100 |
|
|
$10,000 |
From $100 |
|
|
City of Eureka Springs Contractor Bond |
$10,000 |
From $100 |
|
City of Fordyce Contractor Bond |
$2,500 |
From $100 |
|
City of Fort Smith Contractor Bond |
$2,000 |
From $100 |
|
City of Greenbrier Contractor Bond |
$1,000 |
From $100 |
|
City of Hope Contractor Bond |
$1,000 - $25,000 |
From $100 |
|
$1,000 |
From $100 |
|
|
$10,000 |
From $100 |
|
|
City of Marion Contractor Bond |
$10,000 |
From $100 |
|
City of North Little Rock Contractor Bond |
$10,000 |
From $100 |
|
$5,000 |
From $100 |
|
|
City of Rogers Contractor Bond |
$5,000 |
From $100 |
|
City of Sherwood Contractor License Bond |
$10,000 |
From $100 |
|
$5,000 - $10,000 |
From $100 |
|
|
City of White Hall Contractor Bond |
$5,000 |
From $100 |
|
City of Wooster Contractor Bond |
$2,000 |
From $100 |
|
City of Bryant Contractor Bond |
$1,000 |
From $100 |
|
City of Fayetteville Erosion Control Bond |
$1000 - $50,000 |
From $100 |
|
$1,000 - $100,000 |
From $100 |
The surety bonds run continuously until canceled. The surety bond company can cancel the bond. It must provide the principal and the Contractors Licensing Board with a 60-day written notice prior to the cancellation date.
If the surety bond is canceled, you should purchase a new bond and provide documentation to the Contractors Licensing Board. Your license or registration may be suspended without a surety bond.
While the bonds run continuously, the premium payment is due to the surety bond company annually. We will be in touch when the next premium payment is due.
How to Get Your Arkansas Contractor License
You can learn more about how to get an Arkansas contractor license through our helpful guide. To apply for the Arkansas contractor license you must provide:
- A signed application
- Application fee
- A surety bond
- Worker’s compensation insurance (if you have one or more employees)
- Entity documentation, if working as a corporation, LLC, LP or partnership
- Three references (for a commercial contractor license only)
- Passing score on the Arkansas Business & Law exam (for a commercial contractor license only)
- A compiled financial statement prepared by a CPA (for a commercial contractor license only)
Additional information is available by contacting:
Arkansas Contractors Licensing Board
4100 Richards Road
North Little Rock, AR 72117
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Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!
Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!
