General Contractor License Group 5 Bond
Flat Rates & No Credit Check
| Bond Amount Required | Bond Term | Annual Premium |
| $350,000 | 1 Year | $7,000 |
A Group 5 general contractor in South Carolina holds an unlimited bid and job classification, the highest license tier issued by the South Carolina Contractor's Licensing Board. Required by the State of South Carolina, the South Carolina bond may be filed in lieu of the $350,000 net worth requirement of Section 40-11-260 and guarantees that the licensee complies with state contractor law.
Cost of the SC General Contractor License Group 5 Bond
The cost of the $350,000 general contractor license group 5 bond is $7,000 per bond term with NNA Surety. Secure this surety bond today.
How the General Contractor License Group 5 Bond Works
The general contractor license group 5 bond protects the State of South Carolina and the public by guaranteeing that a licensed Columbia general contractor operates in accordance with state licensing law. If the contractor violates the statute or fails to meet the financial obligations tied to the license, the bond provides a source of financial recovery for harmed parties.
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 fails to comply with South Carolina licensing law or leaves valid financial obligations unpaid. The surety investigates every claim and pays valid claims, after which the principal must reimburse the surety in full.
How to Get a General Contractor License Group 5 Bond
Here are the steps to secure your general contractor license group 5 bond with NNA Surety.
- Complete the application.
- Pay the $7,000 bond premium.
- Receive your bond via email.
- Submit the bond to the South Carolina Contractor's Licensing Board with your Group 5 license application.
From application to delivery, working with NNA Surety means fast, dependable service from a reliable surety provider.
Apply for Your General Contractor License Group 5 Bond Today
Meet South Carolina's Group 5 unlimited licensing requirement without tying up your net worth. This South Carolina surety bond is issued quickly when you apply with NNA Surety, so you can file with the state and keep your projects moving. Complete this form or call 855-563-1401 to get bonded.