What is an Iowa Plumbing and Mechanical Systems Bond?
Any plumber in the State of Iowa is required by the Iowa Plumbing and Mechanical Systems Board to submit a surety bond along with his or her license application to ensure the faithful performance of the individual’s duties. The requirement is in accordance with Section 29.2 of the Iowa Code.
What is the bond amount?
The bond amount is $5,000.
Those who have excellent credit scores may be eligible for a very low bond premium.
Find out what you need to pay by getting your FREE quote here today!
What are the Plumbing and Mechanical Systems bond conditions?
- The bond should be issued by a corporate surety who is authorized to conduct business in the State of Iowa such as Surety Bond Authority
- The licensed plumber is obligated to comply with the provisions of Section 29 of the Iowa Code, the rules and regulations of the Iowa Plumbing and Mechanical Systems Board, and all the other applicable rules that govern plumbers in the State of Iowa
- If the licensed plumber commits a valid violation, the aggrieved party will be eligible to file a claim on the surety bond
- If the license applicant is operating as a sole proprietorship, the license applicant must submit evidence that he or she has personally acquired the surety bond to the Iowa Plumbing and Mechanical Systems Board
- If the applicant is an owner of a legal entity or an employee of a legal entity, he or she must submit evidence that the surety bond was obtained by the legal entity to the Iowa Plumbing and Mechanical Systems Board, and that the surety bond will cover all plumbing and mechanical work performed by the legal entity
- In case of cancellation, a 10-day notice is required
How can I obtain this type of bond?
To secure this type of bond, the license applicant must seek the assistance of a surety bond company.
You will first be asked to apply for this bond.
Once the application is received, the surety bond company will immediately process it. In our case, one of our expert surety bond agents will guide you through the whole process from the time you applied for the bond. We will make sure that you understand all the conditions before we issue the bond.
An underwriter will then evaluate the following:
- Your financial strength
- Your job/business performance history
- Your credit score
Once the prequalification process is fulfilled, we will execute the bond and send it to you!
Need this bond immediately? Apply HERE today!