What is a Wisconsin Plumber’s Performance Bond?
Plumbing specialists or plumber service providers are required to obtain a surety bond as part of the license requirements in the State of Wisconsin.
The Plumber’s Performance Bond guarantees that plumbers will adhere to all applicable state laws, statutes, and city ordinances. The bond provides financial compensation against potential misapplication, mismanagement, and non-delivery while providing plumbing services.
The bond is a requirement in the City of Milwaukee and in-line with the plumbing codes of the State of Wisconsin.
What are the bond conditions?
- The bond must be issued by a Surety authorized to conduct business in the State of Wisconsin.
- The Principal shall backfill and maintain any street, alley, or public grounds in which he makes any openings or excavations as directed by the City Commissioner of Public Works for six months after initially backfilling the same.
- The Principal shall pay the cost of restoring the permanent surface of the street, alley, or public grounds by the city.
- In the event that at any time the backfilling of any ditches or excavations between the curb and the lot line is found defective in that future within a period of three years after the date of completion of the work, the Principal shall make the necessary resultant repairs to curbs, sidewalks, driveways, etc., subject to the provisions of Chapter 115 and the rules and regulations established by the Commissioner of the Department of Public Works.
- The Principal shall reimburse the City of Milwaukee for all damages to any city property resulting from work operations, regardless of whether such damage is done by himself, his agents, employees, or subcontractors, then the bond obligation shall be void. Otherwise, it shall have full force and effect.
- The bond covers all work done under any permits for plumbing issued to the Principal during the calendar year and the aggregate limit of liability for such calendar year shall not exceed the penal sum of the bond amount.
What is the bond amount?
The bond amount is $10,000.
The cost of the bond is a percentage of the bond amount. Typically, it’s between 1% and 5% of the bond amount and will be based on your personal and business financial credentials.
Need more information on determining your bond cost? Get your FREE quote HERE!
How do I obtain a Plumber’s Performance Bond?
You can easily get this surety bond from us! We will guide you through the entire process. We’ll make sure that you will understand what you are getting into.
Here’s how to do get bonded:
You have to send an application to us. If you are ready to do that now, you may APPLY HERE!
After we have received your application, we will ask you to submit the necessary information needed for the underwriting process. These are the following:
- Your business or job performance history
- Your credit score
- Your copy of the bond form
An expert underwriter will carefully evaluate all three to attain the best credit decision possible. To avoid any delay, the information that you should submit should be organized and concise.
Your surety bond will be issued and sent to you!
Get started today! Contact us now at 800-333-7800!