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How Much Does a North Carolina Contractor License Bond Cost?
A North Carolina contractor license bond can cost as low as $1,750 for a limited license. In North Carolina, general contractors must carry one of three bonds, depending on the size of the project. A limited license bond is $175,000, an intermediary license is $500,000, and an unlimited license is $1,000,000.
Although these bond amounts are high, you only have to pay a fraction of the total. Our premium rates are 1% to 10% based on important factors. The factors that influence your specific premium rate are your professional resume, your assets and your credit rating.
We approve bonds for 99% of our applicants. Those with a credit score of 700 or higher qualify for a premium rate of 1% to 3%. Applicants with a score between 600 and 699 receive rates from 3% to 5%, while those with a score of 599 or below qualify for rates between 5% and 10%.
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Surety Bond Cost Based on Credit Score |
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|
Surety Bond Name |
Surety Bond Amount |
Over 700 |
Between 600 - 699 |
Below 599 |
|
North Carolina Contractor License Bond |
$175,000 |
$1,750 - $5,250 |
$5,250 - $8,750 |
$8,750 - $17,500 |
|
North Carolina Contractor License Bond |
$500,000 |
$5,000 - $15,000 |
$15,000 - $25,000 |
$25,000 - $50,000 |
|
North Carolina Contractor License Bond |
$1,000,000 |
$10,000 - $30,000 |
$30,000 - $50,000 |
$50,000 - $100,000 |
|
North Carolina Modular Building Set-up Contractor License Bond |
$5,000 |
$100 - $150 |
$150 - $250 |
$250 - $500 |
|
North Carolina Manufactured Home Set-Up Contractor Bond |
$10,000 |
$100 - $300 |
$300 - $500 |
$500 - $1,000 |
How to Get a Contractor License Bond in North Carolina
1. Determine the Surety Bond You Need
In North Carolina, contractor license and bond requirements vary by trade and location at both the state and local levels. Before applying for your North Carolina contractor bond, make sure to research the specific state and local requirements that apply to you.
2. Apply for Your Bond
Our online application form makes getting bonded quick and easy. Simply fill in some details about your business and the type of bond you want, and we can process your application ASAP.
We recently helped Phillip, a contractor in Raleigh, secure a bond for large renovation projects. Frustrated by the licensing process, he needed a bond before starting work. We quickly got him bonded, allowing him to move forward without delay.
3. Get Your Bond Quote
In most situations, we can supply you with a premium quote in a few minutes. However, with more challenging situations, your quote may take up to 24 or 48 hours to process. We guarantee that you’re always getting the best quote possible.
4. Pay the Bond Premium
Paying for your bond to finalize your purchase is simple when you use our online payment portal. We’ll email you the bond as soon as you pay the premium. We can also mail a hard copy if requested.
Our dedicated bond experts provide friendly customer service and can assist you as needed. If you run into a challenge or have questions while setting up your bond, please contact us or call us at (877) 514-5146.
Ready to apply for your contractor bond? Start with a FREE quote!
Contractor License Bond Requirements in North Carolina
North Carolina has a tiered surety bond system for general contractors. The bond must be continuous and maintained as long as the applicant holds a North Carolina general contracting license or meets the required working capital. The bond amount is $175,000 for a limited license, $500,000 for an intermediate license, and $1,000,000 for an unlimited license. The bond should list the State of North Carolina as the obligee and benefit anyone harmed by the applicant’s breach of contract, labor/materials contract, or unlawful acts in construction. Proof of the bond must be submitted with the application and annual renewals.
As mentioned, various cities and counties also set their own bond requirements. Here’s a breakdown of the different bonds you may have to secure.
|
Surety Bond |
Bond Amount |
Premium |
|
Irrigation Contractors' Licensing Board Irrigation Contractor Bond |
$10,000 |
From $100 |
|
Landscape Contractors' Licensing Board Landscape Contractor Bond |
$10,000 |
From $100 |
|
Manufactured Housing Board Modular Building Set-up Contractor License Bond |
$5,000 |
From $100 |
|
Manufactured Housing Board Manufactured Home Set-Up Contractor Bond |
$10,000 |
From $100 |
|
State Board of Examiners of Electrical Contractors Intermediate Electrical Contractor Statement of Bonding Ability |
$60,000 |
From $500 |
|
State Board of Examiners of Electrical Contractors Unlimited Electrical Contractor Statement of Bonding Ability |
$150,000 |
From $1,500 |
|
City of Greensboro Contractor Bond |
$2,000 |
From $100 |
|
City of Greensboro Contractor Bond (Demolition, Grading, House Moving) |
$5,000 |
From $100 |
|
$5,000 |
From $100 |
|
|
City of Winston-Salem Contractor Bond (Electrical, Heating, or Plumbing) |
$2,500 |
From $100 |
|
City of Winston-Salem Contractor Bond (Concrete) |
$5,000 |
From $100 |
|
City of Winston-Salem Street, Bridge, and Sidewalk Contractor Bond |
$25,000 |
From $250 |
|
Town of Kitty Hawk Contractor Bond |
$5,000 |
From $100 |
|
Town of Southern Shores Contractor Bond |
$5,000 |
From $100 |
|
$1,000 - $100,000 |
From $100 |
|
|
$1,000 |
From $100 |
|
|
$2,001 - $100,000 |
From $100 |
|
|
City of Charlotte Land Development Services Bond |
$1,000 - $100,000 |
From $100 |
|
Highway Encroachment Installation Performance and Indemnity Bond |
$1,000 - $100,000 |
From $100 |
|
Stanly County Contractor License Bond |
$10,000 |
From $100 |
|
Town of Holly Ridge House Moving Bond |
$500 |
From $100 |
|
City of Fayetteville Stormwater Control Bond |
$1,000 - $250,000 |
From $100 |
|
$1,000 - $100,000 |
From $100 |
|
|
City of High Point Stormwater Bond |
$1,000 - $100,000 |
From $100 |
How to Get Your North Carolina Contractor License
Requirements for a Utah contractor license depend on the license type. Our bond experts are available to answer any questions you have about how to get a North Carolina contractor license. A few of the common requirements for many types of contractor licenses are:
- Complete the Application: Submit a fully completed application form.
- Meet Age Requirement: Be at least 18 years old.
- Demonstrate Good Moral Character: Provide evidence of good moral character.
- Surety Bond
- Pass the Examination: Successfully complete an examination relevant to the desired license classification.
License Breakdown:
- Limitation: Determines the maximum project size you can undertake:
- Limited License: Projects up to $750,000 each.
- Intermediate License: Projects up to $1,500,000 each.
- Unlimited License: No dollar limit on project size.
- Classification: Defines the type of work you can perform with the license.
To learn about the specific requirements for obtaining the North Carolina contractor license bond you need, contact the appropriate licensing authority. For more information visit the FAQ page from North Carolina Licensing Board for General Contractors or contact:
North Carolina Licensing Board for General Contractors
5400 Creedmoor Rd., Raleigh, NC 27612
(Phone) 919-571-4183
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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!
