Oregon Landscape Contractors Bond
What is the Oregon Landscape Contractors Bond?
In the State of Oregon, landscape contractors are required to secure proper permits prior the operation of their business. Applicants must obtain their license, which are priced differently for individual professionals and businesses, with the Oregon Landscape Contractors Board (LCB).
Individual professionals will have to pay a $100 application fee and a $100 initial/annual license fee. Businesses, on the other hand, will have to pay $150 application fee and $275 license fee. Visit here to know more about the fees and requirements.
Accordingly, one pre-licensing requirement for the bond is the Oregon Landscape Contractors Bond, in bond amounts of $3,000, $10,000, $15,000, and $20,000, which is in compliance with the provisions of the ORS Chapter 671.
Why do you need an Oregon Landscape Contractors Bond?
The State of Oregon, by virtue of the ORS 671.510 or the Landscape Contractors Law, mandates contractors who wish to conduct business as landscape professionals must meet the experience, education, and competency exams to secure a Landscaping Permit Bond prior any well construction.
The bond is a guarantee that contractors will have the necessary equipment to complete the project without posing hazards to the public and that all construction or improvements meet standards and all applicable landscaping laws.
Apart from the mandatory legal compliance, securing your own licensing bond also ensures:
- Your credibility is boosted in terms of financial security
- You are able to use your full line of credit
- The confidentiality of your activities (unless requested by legal authorities)
- Your access to professional advice counseling from lawyers, estimators, and similar professionals
More details about the Oregon Landscape Contractors Bond
The bond must be filed with the Oregon Landscape Contractors Board. The bond must also be issued by a surety bond provider certified by the Oregon Department of Insurance. The parties in the agreement are:
- Principal (landscape contractors)
- Obligee (Oregon State)
- Surety/Bond Company or Obligor (surety bond provider)
How much does an Oregon Landscape Contractors Bond cost?
The cost of Landscape Contractors License Bonds in the State of Oregon will depend on the employer’s credit score, industry experience, business history, and the surety provider’s background. The total bond amount of these are set at different prices and are typically charged as such:
How do I obtain this bond?
At Surety Bond Authority, we are dedicated to help you get your bond the fast and easy way. Here is a step-by-step guide to help you get started.
To secure your bond, be sure to transact with a reputable surety company early. If you are ready to get yours processed today, you can APPLY HERE. Rest assured our expert surety bond agent will guide you from the time of your application until the issuance of your bond.
- Completed bond application form (to be provided by our trusted surety agents)
- Bond forms (as designed and mandated by the state regulation department)
- Financial documents (this includes your bank account statements, sources of income, balance sheets, personal and business capital, escrow accounts, etc.)
- Other requirements as prescribed (seller’s permit, facility permit to legally conduct business, etc.)
In the assessment phase, our underwriter will need the following information:
- Nature of your business
- Credit Score
- Financial strength
For the speedy processing of your application, ensure you have gathered and provided accurate information upon submission.
Once the assessment is done, we will promptly issue your bond and send it your way. Contact us today and get your bond issued in no time.