Who needs to obtain an Oregon Landscape Contractor License Surety Bond?
The Oregon Landscape Contractors Board (LCB) licenses and regulates landscape contractors in the state of Oregon. Contractors must obtain an Oregon Landscape Contractor License Surety Bond and submit it to the CLB as part of their licensing. Bond amounts vary and depend on the job size of the projects being performed by the contractor:
- $3,000 surety bond – if performing projects at $10,000 or less
- $10,000 surety bond – if projects are more than $10,000 and less than $25,000
- $15,000 surety bond – if the projects are more than $25,000 , but less than $50,000 or the business is a probationary business
- $20,000 surety bond – if the projects are $50,000 or more
How does an Oregon Landscape Contractor License Surety Bond work?
Oregon Landscape Contractor License Surety Bonds guarantee that the principal (contractor) complies with all statutes in Oregon Revised Statutes 671.520 – 671.997 that govern landscape contractors, and protect against unlawful actions by the principal. If the principal does not comply with the terms of the bond, a claim can be filed with the surety company for relief. If the claim is valid, the surety will pay up to the penal sum of the bond to resolve the claim. The principal is then required to reimburse the surety for all monies paid out, including any attorney fees incurred.
What is the fine print of the bond?
Oregon Landscape Contractor License Surety Bonds renew on an annual basis. The term for the bond with the state is indefinite and remains in full effect until canceled by the surety or depleted by claims paid. The surety may cancel the bond at anytime by giving 30-days written notice to the LCB of the state of Oregon. The liability of the surety for the aggregate of all claims that may arise under this bond may not exceed the amount of the penal sum of the bond.
Can I get an Oregon Landscape Contractor License Surety Bond with bad credit?
Pacific Surety offers a wide range of approvals, regardless of credit, for Oregon Landscape Contractor License Surety Bonds. Our strong surety relationships help get your price down as low as possible each year. There is no need to shop your rate – we do that for you! If you have any specific questions, feel free to contact our knowledgeable underwriting staff.
How much does an Oregon Landscape Contractor License Surety Bond cost?
Oregon Landscape Contractor License Surety Bonds are subject to underwriting and the price you will pay depends on a review of your personal credit report. Pacific Surety is proud to offer rates starting at 0.50% of the bond penalty amount annually for well-qualified applicants. It typically takes just a few hours from quote to issuance of the bond, and we have the ability to beat any competitors pricing. If you have any specific questions, feel free to contact our knowledgeable underwriting staff.
How do I get an Oregon Landscape Contractor License Surety Bond?
The first step is to complete our quick online application for your free bond quote. Submission takes only five minutes, and our underwriting staff will be in contact with you within a couple of hours with pricing.
After you receive approval, you must sign an indemnity agreement with the surety and provide payment for your bond premium. In most cases, we can issue bonds the same day we receive your signed documents and payment.
I don’t see the bond I need. Are there any other Contractor Surety Bonds available in Oregon?
With thousands of different bonds across the United States, no two businesses are alike. Some additional Contractor related bonds available in Oregon include:
- Farm Labor Contractor Surety Bonds
- Guarantees payments due to laborers
- H-2A Farm Labor Contractor Surety Bonds
- Cover liability incurred during the term of the work contract period applied for
- Contractor License Surety Bond
- Consumer protection that the contractor will complete projects in accordance with the licensing requirements