South Carolina Residential Builder and Residential Specialty Contractor License Bond
Secure your license through this surety bond!
What is a Residential Builder and Residential Specialty Contractor License Bond?
It is a licensure requirement mandated by the South Carolina Residential Builders Commission, State of South Carolina for all residential builder and residential specialty contractor license applicants.
This type of surety bond is needed to ensure that the applicant will perform the acts required by the state law and the rules of the South Carolina Residential Builders Commission, State of South Carolina once licensed.
If the licensee commits misconduct, the Obligee can file for just compensation for the benefit of the aggrieved party.
To be considered as a residential builder, the person should be involved in the construction or oversees the construction, repair, improvement, or re-improvement of a residential building with a total project cost of not more than $5,000 and has the following specifications:
- The construction is not more than three floors in height
- The construction does not have more than sixteen units in any single apartment building
A residential specialty contractor, on the other hand, is any of the following:
- Insulation installers
- Vinyl and aluminum siding installers
- Heating and air conditioning installers and repairers
- Floor covering installers
- Painters/wall paperers
- Drywall installers
- Stucco installers
What is the Residential Builder License Bond amount?
$15,000 – Residential Builder/Certificate of Authorization
$10,000 – Licensed Residential Specialty Contractor (HVAC, plumber, or electrician)
$5,000 – Registered Residential Specialty Contractor
If you have a stellar credit score, you will be eligible for a low bond premium.
Do you want to know your bond premium right now? Get your FREE SURETY BOND QUOTE RIGHT HERE!
How can I obtain a Residential Builder and Residential Specialty Contractor License Bond?
We’ve made it easier for you! Just follow the simple steps below!
STEP 1: Apply for the bond
You need to submit a bond application to us. If you’re ready to apply now, you may do so HERE!
STEP 2: Underwriting
We will ask you for a couple of important information needed for the bond. This will include your financial history, business performance history, and your credit score. An underwriter will carefully evaluate all those.
STEP 3: Bond execution
Once the underwriter is done with the underwriting process, we will immediately issue the bond and send it to you!
What are the surety bond conditions?
- The surety bond should be issued by a South Carolina-authorized surety
- The Obligee will be the South Carolina Residential Builders Commission, State of South Carolina
- The licensee must obey the provisions of Title 40, Chapter 59 of the South Carolina Code of Laws as well as the rules and regulations of the South Carolina Residential Builders Commission, State of South Carolina
- If the licensee commits a violation, the Obligee will be eligible to file for a bond claim