Washington State agencies require surety bonds to license many different kinds of businesses and professions. Also, many cities and counties in Washington require surety bonds for work on municipal projects such as city street and utility construction. That means you must be bonded in Washington if you're a general contractor, electrical contractor, escrow agent, or other worker covered by state, city or county bonds.
Because there are state and local-level bond requirements for certain industries, you might need to carry two bonds to work in Washington. For example, a general contractor—who has the state contractor license bond—might also need to acquire a local bond depending on the location of the project.
Need a surety bond to comply with Washington bonding regulations? We can help. NNA Surety Bonds has been providing affordable policies to companies and individuals across the United States since 1957.
The Washington State Department of Labor and Industries requires general contractors to obtain a surety bond in the amount of $12,000 in order to be licensed. A claim can be filed up to the maximum amount of the bond by a customer or the state if the contractor violates state or federal law or the provisions of the bond agreement. Washington contractors can get proper license bond coverage for a flat rate of $240 per year.
Unlike general contractors, specialty contractors in Washington are only allowed to practice a single trade, such as roofing, plumbing, handyman services, or HVAC. Contact us for your specific bond if you specialize in any of these trades.
Electrical contractors in Washington must post a $4,000 surety bond with the Washington State Department of Labor and Industries as a requirement of holding a business license. The bond provides a means of compensating customers or the state if a claim arises from such issues as improperly done work or failure to pay taxes. Your annual cost for an electrical contractor bond in Washington is only $100 through NNA Surety Bonds.
The Washington State Department of Financial Institutions requires a $10,000 surety bond to get approved for an escrow agent license. The bond agreement allows clients or the state to be compensated should a claim of malfeasance be upheld. The bond’s premium varies based on your credit rating, but qualified agents can receive their policy for just $100 a year through NNA Surety Bonds.
|Bond Name||Coverage Amount||Cost
|General Contractor Bond||$12,000||$240||Washington State Department of Labor and Industries|
|Electrical Contractor Bond||$4,000||$10,000||Washington State Department of Labor and Industries|
|Escrow Agency Bond||$10,000||$100*||Washington State Department of Financial Institutions|
* Cost can vary depending on the bond amount required and your credit rating
Our knowledge of Washington State bond requirements allows us to provide accurate quotes quickly. For guidance through the bond selection process for your business, talk to one of our experts today.