Our Comprehensive Arizona Contractor Bond Service
The sixth largest and the 14th most populous of the 50 states, Arizona requires every contractor licensed in the state to have a Contractor Bond. Contractors Exam Center offers you a comprehensive Arizona contractor bond service to bring you completely up to speed and get you bonded. The bond can be in any an amount ranging from $1,000 to $500,000.
Arizona Contractors Must Be Licensed and Bonded
The amount of your bond depends on the type of Arizona contractors license you’re requesting. Plus your experience and the monetary limit granted by your license. Your Arizona bond also takes into account your current, past or future financial responsibilities. The Contractors Board at the Arizona Registrar of Contractors will also consider the character and credit rating of the contractors license bond applicant.
Once Bonded, Your Personal Comportment is Important
Once licensed and bonded, you personally are advised to not commit any violations which might be grounds for disciplinary action. Arrests and even traffic tickets can go directly against your license bond. Once that’s pulled, you’re out of business until you’ve made your restitution.
Your Arizona Contractor Bond is a Contract
The surety company promises the state that the contractor will comply with all state regulations. If the contractor does not act within the conditions of state law, a claim can be filed against their Arizona contractor bond with the surety company. Your employees, client homeowners, business people or any other person damaged by “willful and deliberate” violation of a construction contract can file a claim against a surety company.
Your Bond Is NOT Insurance
Contractor bonds should not be confused with insurance policies. If a surety company pays out a claim, the contractor is still responsible for their obligations. The contractor must repay the surety company for losses incurred as a result of the contractor’s actions.