What is an Arizona Taxpayer Bond for Contractors?
The Arizona Taxpayer Bond for Contractors certifies that a contractor will construct, change, renovate, add to, subtract from, develop, move, demolish any building, public road, thoroughfare, railroad, quarry, and whole other types of structure expansion or development in a professional manner in the agreed period.
The bond likewise assures that he/she will pay all transaction privilege taxes, fines, and other obligations mandated by the Arizona Registrar of Contractors and will conform to all state regulations and policies with regards to all job contracting within the state of Arizona.
Why do you need the Arizona Taxpayer Bond for Contractors?
You need an Arizona Taxpayer Bond for Contractors because your business is important to you. You want to be a business owner who knows how to protect not just clients but the public in general.
With this bond, existing customers and prospective patrons will look up to you as an individual of dependability, credibility, consistency, and respectability.
Through the bond, you will wear that image of propriety and competence that will assure you a good ranking among your peers within the industry. This bond provides your customers serenity knowing that a third party surety firm backs you up.
More details about the Arizona Taxpayer Bond for Contractors
There is no termination date on the bond’s validity. The bond is in full force and effect when you pay premiums to a surety company. Also, the bonding company has the right to terminate the bond in case of failure in meeting your obligations. However, a notice will be sent to you and the Arizona Registrar of Contractors 30 days before the bond’s cancellation date. If this takes place, it is necessary for you to replace the bond or your license will be put on hold. This bond cannot be enforceable not until filed with the Registrar’s office.
Before getting bonded, you need to be aware that the cost of a contractor’s permit relies on the category and class of license for which the applicant is applying.
What is the cost of a Taxpayer Bond for Contractors?
The obligatory bond amount contrasts and hinges on the work being carried out. The lowest bond prerequisite is $2,000 with the highest bond obligation amounting to $102,000.
The applicant’s credit score and financial history determine the premium payments. Likewise, the profile of the applicant including his/her reputation as a member of the community will be a strong factor in the decision of how much the premium will be for this bond.
How do I get a Taxpayer Bond for Contractors?
A Taxpayer Bond for Contractors is easy to obtain. Select a certified surety professional and give them a call ASAP! An expert surety professional can readily provide you the answers you need and the solution to whatever concerns you have in the operation of your business.