General Contractor License Group 1 Bond
Flat Rates & No Credit Check
| Bond Amount Required | Bond Term | Annual Premium |
| $20,000 | 1 Year | $400 |
In South Carolina a general contractor is an entity that performs or supervises general construction — the installation, replacement, or repair of buildings, structures, highways, paving, or other improvements to real property. Required by the South Carolina Contractor's Licensing Board, the South Carolina bond may be filed in lieu of a financial statement to satisfy the Group 1 net worth requirement and guarantees the contractor's compliance with state construction law.
Cost of the SC General Contractor License Group 1 Bond
The cost of the $20,000 General Contractor License Group 1 bond is $400 per bond term with NNA Surety. Secure this surety bond today.
How the General Contractor License Group 1 Bond Works
The General Contractor License Group 1 bond protects the State of South Carolina and any person damaged by a contractor's breach of a construction contract or failure to pay for labor, materials, or professional services. It guarantees that a Columbia general contractor will operate within the bid and job limits of the Group 1 license and comply with South Carolina Code Title 40, Chapter 11.
The bond involves three parties:
- Principal: The licensed general contractor
- Obligee: The State of South Carolina
- Surety: Bonding company
A claim against a bond may be filed when a Charleston general contractor breaches a construction contract or fails to pay for contracted labor, materials, or services. The surety pays valid claims up to the $20,000 bond amount, and the contractor is responsible for reimbursing the surety in full.
How to Get a General Contractor License Group 1 Bond
Here are the steps to secure your General Contractor License Group 1 bond with NNA Surety.
- Complete the application.
- Pay the $400 bond premium.
- Receive your bond by email.
- Submit the signed bond to the South Carolina Contractor's Licensing Board with your license application.
A South Carolina surety bond is a fast, affordable alternative to tying up cash to meet a net-worth financial statement. Working with NNA Surety means quick turnaround and licensed support at every step.
Apply for Your General Contractor License Group 1 Bond Today
Get bonded quickly so you can move forward with your South Carolina Group 1 license. Complete this form or call 855-563-1401 to get bonded. When you apply with NNA Surety, you get flat-rate pricing and no credit check.